mx51 gets backed by Mastercard in USD 32.5 mln Series B

Wednesday 20 July 2022 12:17 CET | News

Australia-based fintech mx51 has raised USD 32.5 million to be able to scale locally and expand internationally.

mx51 facilitates banks, acquirers, and merchants to keep ahead of rapidly evolving shifts in payments technology. In addition to expansion, mx51 will also use the funds to double down on its core in-store, online payments, and merchant dashboard solutions. It will also develop further capabilities to assist with fraud prevention and data-driven customer insights.

Company officials stated that they’ve succeeded on the back of their focus on simplifying the merchant payment experience, and enabling banks and acquirers to innovate around legacy technology and to keep pace with changes in the payments sector. This capital raise is also in spite of global macro headwinds. This is because their primary customers, banks and acquirers, are positioned to deepen collaboration and co-invest with fintechs to deliver modern payment experiences to their merchants.

mx51’s product serves two distinct markets. For banks and acquirers, mx51’s Payments-as-a-Service platform provides a futureproofed payments solution, that y leverages their existing legacy technology infrastructure.

For merchants, mx51 provides a suite of embedded payments solutions to create a seamless experience, both online and in-store. The platform is regularly updated with new modules and capabilities, which when coupled with robust self-service features and deep customer insights, allows banks and acquirers to deliver services for merchants.

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Keywords: merchant, embedded payments, fintech, Acquirer, banks, online payments
Categories: Payments & Commerce
Companies: mx51
Countries: World
This article is part of category

Payments & Commerce


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