Global payments provider B4B Payments is joining the Mastercard FinTech Express program to become licensed to issue Mastercard prepaid, debit and credit cards either directly with Mastercard or through its qualified Express Issuance partners.
Part of the Mastercard Developers initiative, the Mastercard FinTech Express program is intended to assist and support businesses going through the licensing process, according to a press release on Tuesday (Jan. 4).
Launched over 15 years ago, B4B Payments is authorized by the Financial Conduct Authority (FCA) to offer businesses instant and secure prepaid solutions. The platform gives businesses of all sizes the ability to manage payments, expenses, gifts and rewards.
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Paul Swinton, B4B Payments CEO, said that joining the Mastercard Fintech Express program will help the company “quickly support organizations to go live with Mastercard with our turnkey solution.”
He added that B4B Payments has been disrupting the business payments space with its “quicker, more efficient, and cost-effective cashless pay-outs.” Teaming up with Mastercard will “help us deliver more choice to organizations looking to scale.”
B4B Payments started collaborating with Mastercard in 2020 and joined the FinTech Express program as a principal member. The extended partnership is in-step with B4B’s goal of making “innovative payment capabilities instantly accessible for all businesses that need it,” per the release.
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B4B Payments is an Electronic Money Institution in the U.K., regulated by the FCA, and in Lithuania, regulated by the Bank of Lithuania. The company is also a principal member of Mastercard Europe and a partner of VISA Inc in the U.S.
The company has expanded its presence across Europe and extends card services to more than 1,000 corporate clients worldwide.
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