As shared in the official release, connecting with Mastercard is part of Paysign’s strategy to expand its current payment experiences for its cardholders and clients. What is more, the integration with Mastercard will also bring about additional advantages for Paysign.
Safety-wise, the collaboration means that Paysign will get access to added security features and fraud protection mechanisms. As a result, Paysign will be able to boost its clients' trust in the security of the transactions that it offers by leveraging Mastercard’s robust payment infrastructure.
According to the official release, the connection is also expected to facilitate the development of new payment solutions that cater to the needs of customers.
By integrating with the payment processes made available by Mastercard, Paysign will additionally be able to enable its clients to make faster transactions. The integration is anticipated to improve the overall user experience and, thus, foster customer satisfaction and loyalty.
Founded in 2001, Paysign provides a range of solutions that include prepaid card programs, patient affordability offerings, digital banking services, and integrated payment solutions specifically designed to address the needs of businesses, consumers, as well as government institutions.
The fintech provides its solutions to clients from various industries including healthcare, pharmaceuticals, retail, and hospitality. The payment platform facilitates financial digital financial services and enables the distribution of funds for payroll, travel expenses, reimbursements, customer incentives or other exchanges of value.
Earlier in 2023, Paysign partnered with Spentra, a fintech specialising in pay access solutions addressed to employees and employers. The partnership enabled Paysign to extend a full-featured payroll debit card programme to its customers. The programme similarly enhanced the cardholder experience for Paysign’s clients and provided them with money management tools.
From Spentra’s perspective, the joint venture opened access to a new level of analytics, as it facilitated insights into how cardholders behave and interact. This is made possible by the fact that users were extended access to an all-digital engagement model and mobile app that enabled them to activate their cards and manage their funds instantly.
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