The license from MasterCard provides a recognition of ePayments Group's increasingly prominent role in the online payments industry where it now has over 300 corporate clients and this year is on track to settle US$0.5bn in transaction volumes.

ePayments modular and highly scalable technology has been used to build bank grade enterprise solutions for clients around the world. Membership will provide access to licensing agreements and allow ePayments Group clients to connect to MasterCard directly without having to go through a separate interface.

Mike Rymanov, Co-Founder and CEO said: Becoming a principal member of MasterCard is an exciting moment for ePayments Group. As payment transactions become increasingly global in nature, ePayments Group provides a platform for low-cost, fast and integrated payment solutions. Principal membership of MasterCard will ensure our services are offered to as broad a base as is possible.

The appointment further bolsters ePayments Group's position with leading financial intermediaries including Forex, PCM and network affiliates as it looks to become the leading online payments platform within the Financial Services industry.