PaidBy Partners with Mastercard to Scale Cross-Border Account-to-Account Payments
PaidBy and Mastercard announced a strategic partnership to promote the global adoption of cross-border account-to-account (A2A) payments through open-banking technology. The partnership will allow consumers to pay in local currencies while providing merchants with simplified cross-border settlement and reconciliation services.
What are the key facts?
- 1PaidBy and Mastercard form a strategic partnership
- 2Aims to promote open-banking-driven A2A payments
- 3Supports local-currency settlement for cross-border merchants
What happened?
PaidBy is working with Mastercard to address fragmentation in cross-border payments by combining Mastercard’s global network with PaidBy’s orchestration infrastructure. The model supports merchants receiving settlements in local currencies across different markets, with next-day payouts to improve cross-border ecommerce cash-flow operations.
What does this mean for cross-border sellers?
As A2A payments become more widely used in cross-border ecommerce, sellers may benefit from lower fees and faster settlement. Monitor opportunities to connect with relevant payment channels.