PXP Financial, an expert in acquiring and payment processing services, has today announced a new collaboration with global technology company Mastercard and payments infrastructure provider Payall, to deliver safe, compliant and efficient cross-border payments and international money transfers.
This collaboration offers inclusive payment capabilities that enable PXP Financial's customers to send funds to their partners, employees and suppliers safely, efficiently and more conveniently than ever. This includes inclusive payout options to recipients regardless of whether they are banked or unbanked. The next step for PXP Financial is to work with Payall to open new destinations and new payment channels, including sending to mobile wallets, cash pickup locations and paying direct to card.
PXP Financial began working with Payall in mid-2022, having chosen Payall for its focus on payments compliance and safety, as well as its cutting edge, fintech-level experience for end users. Payall offers financial institutions worldwide a new paradigm for providing cross-border payments with first-ever capabilities that transform international money movement.
Mastercard gives people and businesses a secure and convenient way to send money to bank accounts, mobile wallets, cards and cash payout locations around the world. Mastercard Cross-Border Services reaches more than 100 markets and 90% of the world’s population.
Commenting on the announcement, Kamran Hedjri, CEO of PXP Financial, said: “We’re delighted to be working with Payall and Mastercard to facilitate cross-border payments, which have traditionally been slow, cumbersome and risky for both payers and financial institutions. By leveraging Payall's proprietary compliance tech and Mastercard's innovation moving funds globally, we are now able to offer our customers speedy, safe and simple access to international payments.”
Gary Palmer, CEO of Payall, added: “With a focus on international funds transfer compliance, process automation and payment orchestration, we deliver turnkey technology and power new paradigms that eliminate the inefficiencies and address the complexities of cross-border payments. We’re thrilled to support PXP Financial to deliver better-than-fintech service to its customers making international payments.”
Rasika Raina, SVP, Mastercard Cross-Border Services, said: “Whether sending money home to families or working with global suppliers, the need for fast, reliable and transparent payments has never been more crucial. Through programs like this, we’re making cross-border payments safe, fast and easy for everyone.”