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Paycast partners with Marqeta and Mastercard for marketplace solution

Wednesday 24 November 2021 13:59 CET | News

UK-based marketplace payment engine Paycast has teamed up with US-based fintech Marqeta and Mastercard to launch a digital card product for marketplace sellers.

Paycast enables marketplaces to hold funds in escrow between buyers and sellers until the conditions of sale have been verified. The ability for marketplace sellers to access these funds immediately on a virtual card provides more choice and a modern experience for accessing proceeds.

Marqeta is supporting Paycast with its open API platform, which enables digital builders such as Paycast to create modern financial products. Paycast will leverage Marqeta’s virtual card functionality, which will give Paycast customers the ability to participate in the authorisation process and set rules supporting anti-fraud measures.

Mastercard will enable the use of the virtual cards on its global card network, providing industry and functional expertise as well as collaborating on customer growth initiatives and marketing.


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Keywords: Marqeta, Mastercard, partnership, virtual card, escrow, API, ecommerce
Categories: Payments & Commerce | Cards
Countries: United Kingdom
This article is part of category

Payments & Commerce