On Tuesday, Mastercard announced a strategic partnership with Payrails aimed at transforming enterprise digital payments.
This collaboration is set to enhance payment solutions for large businesses, providing them with the tools necessary to navigate the complexities of the digital economy effectively.
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Mastercard and Payrails streamline payment optimisation
The partnership combines Mastercard’s extensive network and technology with Payrails’ expertise in payment optimisation. They will co-create innovative payment acceptance products that are seamlessly integrated into enterprise systems. This integration allows businesses to access flexible payment options tailored to their needs.
Amnah Ajmal, Executive Vice President of Market Development for EEMEA at Mastercard, stated, “At Mastercard, we work with our enterprise partners to develop and implement seamless and adaptable payment solutions”. This initiative is expected to streamline transactions and improve operational efficiency for global enterprises.
Payrails CEO Orkhan Abdullayev expressed excitement about the collaboration, highlighting its potential to enhance transaction security and scalability.
He noted, “We are delighted to team up with Mastercard to deliver unparalleled payment solutions that enhance transaction security, offer unprecedented scalability, and reduce time to market.” The partnership aims to give businesses a competitive edge by enabling them to manage high transaction volumes across multiple markets.
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Localised payment experiences
One key feature of this partnership is the focus on localising payment methods to cater to various countries. This approach aims to create a more dynamic and seamless consumer checkout experience. By offering a wider range of payment options tailored to local preferences, Mastercard and Payrails are committed to enhancing customer satisfaction. The initiative will support diverse payment methods and allow enterprises to implement region-specific checkout solutions.
This collaboration benefits large enterprises and aims to improve customers’ overall payment experience. Mastercard and Payrails intend to set new industry standards in digital payments by addressing the unique market needs.
As Abdullayev mentioned, “We look forward to setting new industry standards and paving the way for sustained growth together”. This partnership marks a significant step toward revolutionising how enterprises handle digital payments in an increasingly interconnected global economy.