Building a Global Vendor Community to Speed Digital Payment Innovation

Building a Global Vendor Community to Speed Digital Payment Innovation
26.06.2017 11:45 am

Building a Global Vendor Community to Speed Digital Payment Innovation


I love my smartphone. The variety of tasks that I can complete today using it has taken away the need to use dedicated devices that are now gathering dust in my home. Instead, I stream music and videos, navigate road trips and take amazing, high quality pictures of my adventures (I can share some if you’d like) – all with my phone. But most of all, I love the flexibility to pay with that same device anywhere I’d like while still feeling secure that my credentials are being safeguarded by my bank.

At Mastercard, we’re committed to delivering choice, allowing consumers to pay with whatever form factor – plastic card, smartphone, wearables, cars, etc. – they deem most convenient, while maintaining the highest level of security. And as consumers increasingly lead connected lives, we’re providing the relevant tools to our issuing and internet of things (IOT) partners to deliver secured payments to consumers.

However, building a payment solution is not an easy task for financial institutions or fintechs. Identifying and partnering with theright vendor that can help bring a digital payment service to market is a critical component in achieving this vision.

The Mastercard Digital Vendor Program is a community of vendors that helps Mastercard customers digitize their card portfolios and deploy Masterpass-enabled digital wallets. The Program allows for open communication with key Mastercard representatives to aid in the integration of solutions, regular training and webinars and access to key documentation. The community directory also provides vendor contact info and state of implementation readiness of key digital capabilities for Mastercard issuers to expedite the vendor selection process.

To date, we have 59 vendors globally as part of this program with the objective of providing a superior consumer digital experience and the highest level in payment security. There are three Platinum program level vendors: Payair Technologies, Sparkling18 and uPaid; and, 12 digital vendors at the Gold program level – including recently announced Sequent. These companies are ready to work with issuers and IoT partners, while many more are working on their integration with Mastercard.

From North America and Europe, to Asia Pacific, the Middle East and Africa, and Latin America and the Caribbean, these Digital Vendors offer their solutions in multiple regions around the globe. Of the 59 participants, there is approximately 20 vendors able to offer both solutions and local support in each of these regions.

The Mastercard Digital Vendor Program will not only assist companies with the identification and selection of the right vendor, but will help the payments industry collectively achieve speed and greater reach for digital payments – providing stronger security across channels and devices for the benefit of the consumer.

Related News

Introducing MultiPay by PayPoint

The market-leading omnichannel one-stop-shop for digital payment solutions for the banking sector

Over the last decade, many of the UK’s businesses have... Read more »

Vodacom customers will now have the option and ability to easily transfer and receive funds from individuals across more than 200 countries worldwide

Over 200 countries can send and receive money via Vodacom’s Tanzania M-Pesa; The mobile Money services continues to drive economic growth and financial inclusion in Africa.... Read more »

Major Eurozone banks start the implementation phase of a new unified payment scheme and solution, the European Payments Initiative (EPI)

A group of 16 major European banks from five countries (Belgium, France, Germany, the Netherlands and Spain) paved the way for the future launch of the European Payments... Read more »

BNY Mellon To Deliver Real-Time Account Validation Services to Corporate and Bank Clients

BNY Mellon today announced a strategic collaboration with risk and payments solution provider Early Warning Services, LLC (EWS). Through this... Read more »

PPRO adds European Paysafecash to its robust local payment method platform

Today, PPRO, the leading local payments platform-as-a-service, announces that it has released a direct integration with Paysafecash, in a move that signifies the brand’s... Read more »

Paycircle and PayDashboard partner to fully digitise payroll and payday experience

Cloud-based payroll provider, Paycircle, and interactive payslip platform... Read more »

Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel