CleverCards, the global payments platform, has announced at Money20/20 a landmark integration with Mastercard Processing Europe, the issuing processor arm of Mastercard, in furtherance of their recent partnership with Mastercard.

Digital Mastercards are downloadable from the CleverCards platform, unlocking instant access to funds for all users; from individuals to Retailers, merchants or organisations. This card processing integration now enables payment administrators in Businesses and Public sector organisations to custom brand their own Mastercards, and personally configure each Mastercard for various uses.

Serving numerous market needs such as instant access to earned merchant POS acquired funds, customer, contractor and public sector payouts and employee and social welfare benefits, it is truly one Mastercard with many configurable uses.

Marcin Cichocki, Product Co-Founder, Senior Vice President at Mastercard Processing, said, “Launching innovative payment applications has never been so fast and simple and we are delighted to deepen our relationship with CleverCards, a certified Mastercard FinTech Express partner. With a rapidly growing global transition towards more digital economies across 31 European markets, having Mastercard processing inside the CleverCards platform will significantly reduce the lead times and complexity for Financial Institutions, Public Sector organisations and Businesses that sit on legacy payment infrastructures.

“We continue to be impressed by the CleverCards digital-first value propositions and customer-centric approach and this payment processing capability will have a remarkable effect on the businesses and organisations that choose to glean its benefits.”

Kealan Lennon, Founder & CEO of CleverCards, said, “CleverCards’ mission is to enable anyone, anywhere, anytime to pay and get paid instantly. Just as music and movies transitioned from plastic to digital into our phones, our vision is a world rid of plastic debit and credit cards, paper cash and vouchers. A world where a digital Mastercard can be downloaded to your mobile, just as easily as you can stream a song.

“To achieve this objective, we entered into a strategic partnership with Mastercard in 2020 and now we have the power, security and scale of Mastercard Processing inside the core of the CleverCards infrastructure, enabling us to offer partners one platform for multiple payment needs. This gives CleverCards a unique competitive advantage in a market of legacy disparate payment solutions, which are costly, inefficient, slow, geographically restrictive, inflexible and increasingly lacking in fraud and regulatory compliance controls.”

Thousands of Businesses, Public sector organisations and Financial Institutions use CleverCards white-labelled software applications and APIs to instantly issue customisable & configurable Digital Mastercard’s enabling the cardholder to use it as configured, online or in-store with mobiles contactlessly.

Payment administrators can download and personally configure each Mastercard to function by a certain merchant category only or limited to an individual physical or online merchant. In addition to this, administrators can set Mastercard credit limits, expiry dates, location restrictions and a host of other controls, supported by real-time data insights into when and where the Mastercards are used.

“Long known as the hub for digital technology innovation globally, Ireland is fertile ground for the best and brightest talent in the world in Fintech,” said Jane O’Sullivan, Trade Development Executive at Enterprise Ireland, the VC of the Irish government whose mission is to nurture, fund, and support fledgling Irish-born start-ups like CleverCards, from infancy to maturity throughout the world. “That talent is creating some of the most unique and progressive digital tools used by many leading companies such as American Airlines, PNC, Hyatt, Mastercard, and many others within the U.S.”

This partnership is the latest in a long line of high-profile announcements for CleverCards, which recently joined Mastercard’s Fintech Express programme following the signing of a strategic partnership to expand the usage of digital cards across Europe.

Financial Institutions, Public sector organisations or Businesses that are interested in learning more about CleverCards’ services can do so by contacting Enquiries@CleverCards.com.