As a principal issuing member, Pomelo Pay will be able to issue payment cards directly to its SME customer base and make direct payment settlements with Mastercard on behalf of its merchants, aiming to help its customers reduce the friction in the payments journey and enable its merchants to get access to their working capital faster.
According to the press release, Pomelo Pay allows businesses to take payments from anyone, in any location without the need for hardware. Its approach enables businesses across a multitude of sectors, including construction and trades, food and drink, as well as travel and hospitality, to adapt to changing circumstances.
The partnership with Mastercard builds on other recent developments for Pomelo Pay after it was awarded its e-money license by the Financial Conduct Authority in November 2020 and achieved its PCI Compliance Level 1.
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