GPS
Global Processing Services Announces New Partnership With Mastercard to Power ‘Next Generation Payments’ Technology to Global Fintechs
Global Processing Services (“GPS”), a leading global payment technology platform, today announced a new strategic partnership with Mastercard .
Today’s announcement expands on the two firms’ longstanding relationship stretching back over a decade. Together, GPS and Mastercard have worked in partnership to launch and scale hundreds of card programmes for some of the most successful and 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 providing GPS with a bench of experienced global growth investors including Advent International – through Advent Tech and affiliate Sunley House Capital – Viking Global Investors ; Temasek , the global investment company headquartered in Singapore; and MissionOG , a US-based growth equity firm.
GPS intends to invest strongly 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, and as a result, Mastercard has made a strategic investment into the company.
GPS plays a crucial role in enabling fintech customers of networks such as Mastercard to deliver a trusted and dynamic digital commerce experience to billions of consumers who use physical and virtual cards – innovatively, quickly, and securely.
Through GPS’s modern and agile cloud-based technology, fintechs can access a diverse and expanding suite of modern open APIs that enable ambitious and disruptive players to scale at speed. Fintechs can also access GPS’s unique ecosystem of international partners, freeing them up to focus their time and resources on what truly matters to them – delivering an exceptional customer experience and continuous product innovation that disrupts and advances traditional banking, payment and lending services.
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. We provide the solutions and expertise to iterate with fintech companies at each stage, transform together and achieve scale at pace.”
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.”
-ends-
View source version on businesswire.com: https://www.businesswire.com/news/home/20220323005521/en/
Link:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
CA-LINKSYS24.5.2022 17:02:58 CEST | Press release
Linksys Brings Best in Class WiFi Performance to the Home with New Series of Affordable WiFi 6 Mesh Solutions
FERRING-PHARMACEUTICALS24.5.2022 17:02:08 CEST | Press release
Ferring Presents New Analyses of Efficacy, Safety and Microbiome Composition Data at DDW 2022 for RBX2660 its Investigational Microbiota-Based Live Biotherapeutic
NV-RIMINI-STREET,-INC.24.5.2022 15:02:06 CEST | Press release
Rimini Street Delivers Its Support Services for SAP to Lwart, Enables Regulatory Compliance and New Payment and Electronic Invoicing
SFA-ENVIRO24.5.2022 15:02:06 CEST | Press release
The SFA Group Launches Environmental Division: SFA enviro
REPLY24.5.2022 14:47:08 CEST | Press release
REPLY Extends Its Presence in Banks and Insurance in Germany With the Acquisition of FINCON
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom