Mastercard today announces a new partnership with sync. as it prepares to launch a new all in one smart banking service across the UK and Europe.
Sync’s exciting new smart banking service is an all-in-one hub that allows users to open a sync. account in minutes, and link all existing bank accounts and cards. This unique experience will allow users to synchronise all of their financial accounts (bank, credit, loan and mortgage accounts) in one app, providing them with a simple, fast and secure way of managing their finances, getting personalised insights into their spending, and receiving meaningful rewards and tailored financial solutions.
Mastercard has worked closely with sync. over the past 12 months to create a card with unique security features. These are unobtrusive, hidden behind the company’s distinctive black and fluorescent yellow ‘designer’ branding. The magnetic strip is invisible and a unique CVC number is generated via the app. Many other security features like ATM withdrawals, contactless, swipe, international or online payment functionalities can also be turned on and off via the app, making it the most secure debit card on the market.
Its multi-currency functionality means cardholders can use it to spend in more than 30+ different currencies without incurring costly foreign exchange transaction (FX) fees every time they make a purchase.
The app and card will be available to any European Economic Area residents, and interested parties can now subscribe to be one of the first to hold a sync. card at Sync.Money.
“sync. stands for transparency and inclusion. This means that everyone should be able to be in control of their finances, everyone should be able to send money home without the burden of unreasonably high fees, and everyone should be able to get financial services without unrelated requirements in order to get a good credit score,” comments Ricky Lee, CEO and founder at sync. “As a new solution driven company, the support of Mastercard has allowed us to push the boundaries to help us create a new way of banking, which we don’t think would be possible without their amazing partnership.”
“sync. is an exciting new fintech with an innovative and unique product, offering a one-stop option for consumer’s busy lives and taking the hassle out of banking,” said Scott Abrahams, senior vice president, business development for Mastercard in the UK and Ireland. “Mastercard is the partner of choice for over 90% of fintech’s worldwide, and with sync. we are delighted to be working with the next generation of neo-banks looking to bring further innovation to the market. They are certainly one to watch in 2020 and beyond.”