PaidBy Partners with Mastercard to Scale Cross-Border Account-to-Account Payments
PaidBy and Mastercard have formed a strategic partnership to advance global open-banking-driven account-to-account (A2A) payments. The solution allows consumers to pay directly from bank accounts and enables merchants to settle in local currencies, 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 (A2A) payments
What happened?
The partnership combines Mastercard’s global connectivity with PaidBy’s orchestration and settlement infrastructure to provide merchants worldwide with a scalable cross-border A2A payment model and next-day settlement.
What does this mean for cross-border sellers?
The expansion of cross-border A2A payments could give sellers lower-cost settlement options and improve cash flow. Highest-priority action: learn about and integrate cross-border A2A payment methods as soon as possible to improve settlement efficiency.