Payment technology platform Global Processing Services (GPS) has announced a new partnership with Mastercard, who has also made a strategic investment into the company for an undisclosed sum.
The funding was due to GPS’ strong investment in international expansion and product development with an eye on new and fast-growing verticals where adoption continues to rise including digital banks, crypto, BNPL, open banking and cross border payments.
Through GPS’ agile cloud-based technology, fintechs can access a diverse and expanding suite of modern open APIs that enable organisations to scale at speed.
Additionally, fintechs will also be able to access GPS’s unique ecosystem of international partners.
Together, GPS and Mastercard have worked in partnership to launch and scale hundreds of card programmes for some of the most innovative fintechs in the world including Revolut, Starling Bank and Curve, amongst many others across Europe and Asia-Pacific.
In January 2022, GPS announced a significant capital injection of over US$400 million from notable investors.
Jason Lane, Executive Vice President Market Development Europe, Mastercard said,
“We are excited to be formalising our partnership with GPS, working with them to build the fintechs of the future.
Mastercard has a long history of partnering with fintechs, ensuring we have the programmes, products and tools that every innovative financial company needs even as the sector continues to evolve.”
Joanne Dewar, Chief Executive Officer at GPS said,
“Our partnership with Mastercard is a resounding endorsement of our API-first payment technology platform and our bold vision for the future of payments. Together, for over a decade, we have helped to reliably scale many customers at speed.
We welcome them as a GPS investor and we are ready to support many more future Mastercard fintech customers to scale into global businesses with the innovation, speed, and security they expect.”
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