20 February 2018
Visit www.avoka.com

FairFX granted Mastercard membership status

21 December 2017  |  9957 views  |  0 Source: FairFX

FairFX, the e-banking and international payments group, is pleased to announce that Mastercard has granted FairFX full membership status.

This gives FairFX a licence to issue Mastercard branded cards, initially across Europe but with other regions to follow.

The membership of Mastercard is part of FairFX’s stated strategy and is just one of the benefits of the e-Money licence the Group holds. Mastercard membership is also an example of FairFX continuing to gain direct membership of banking and payment networks rather than accessing through third parties.

FairFX currently has a number of card programmes issued by third parties that can now be brought in house. In addition to cost savings, doing so will improve delivery and simplify processes, which will facilitate the Group’s continuing growth.

Ian Strafford-Taylor, CEO of FairFX, said: "Gaining Mastercard Membership is a major step in our stated aim of reducing FairFX’s reliance on third parties and providing choice for the business. We can now place our various products and services through the supply chain that fits best from the perspective of cost, flexibility and reliability. Going forward this will simplify our product iteration and reduce our cost base which will ultimately benefit our customers.”

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit https://www.capgemini.comvisit www.ebaday.comvisit www.nextgenbanking.co.uk

Top topics

Most viewed Most shared
Saudi central bank provides sandbox for banks to try out Ripple techSaudi central bank provides sandbox for ba...
11832 views comments | 16 tweets | 12 linkedin
ABN Amro moves escrow accounts to the blockchainABN Amro moves escrow accounts to the bloc...
9511 views comments | 15 tweets | 13 linkedin
ECB launches staunch defence of cashECB launches staunch defence of cash
9286 views 10 comments | 22 tweets | 26 linkedin
Coinbase and Visa at loggerheads over erroneous charges on customer crypto accountsCoinbase and Visa at loggerheads over erro...
8081 views comments | 13 tweets | 12 linkedin
FCA explores creation of global sandboxFCA explores creation of global sandbox
7358 views comments | 19 tweets | 18 linkedin

Featured job

Basic c.£90K OTE c.£180K plus full benefits pac...
London based

Find your next job