PaidBy Partners with Mastercard to Expand Cross-Border Account-to-Account Payments
PaidBy has entered into a strategic partnership with Mastercard to promote globally scalable account-to-account (A2A) payments driven by open banking. This solution allows consumers to pay directly from bank accounts and enables merchants to settle in local currency, addressing fragmentation and long settlement cycles in cross-border payments.
What are the key facts?
- 1Partner Mastercard
- 2Core technology Open Banking
- 3Target cross-border account-to-account payments (A2A)
What happened?
This partnership combines Mastercard’s global connectivity with PaidBy’s orchestrated settlement infrastructure, aiming to provide global merchants with a scalable cross-border A2A payment model for next-day settlement.
What does this mean for cross-border sellers?
The promotion of cross-border A2A payments will offer sellers lower-cost settlement solutions, helping to improve liquidity. Highest priority action: Quickly understand and integrate suitable A2A payment methods to enhance settlement efficiency.