The collaboration provides inclusive payment capabilities that are set to enable PXP Financial’s customers to send funds to their partners, employees, and suppliers alike in a safe, compliant, and efficient manner.
Based on the information detailed in the press release, the payment capabilities also include inclusive payout options to recipients regardless of whether they are banked or unbanked. What is more, as a next step, PXP Financial is set to work with Payall to open new destinations and payment channels, which include sending to mobile wallets, cash pickup locations, and direct-to-card payments.
The announcement highlights that PXP Financial has been collaborating with Payall since mid-2022, with Payall having been chosen due to its focus on payments compliance and safety, as well as its fintech-level experience for end users. Payall provides financial institutions throughout the globe with a new paradigm for offering cross-border payments with capabilities that aim to transform the international money movement.
What is more, Mastercard enables people and businesses alike to send money to bank accounts, mobile wallets, cards, and cash payout locations around the world in a secure and convenient way, with the Mastercard Cross-Border Services reaching over 100 markets and 90% of the world’s population.
When commenting on the announcement, Kamran Hedjri, CEO of PXP Financial advised that the company is looking forward to collaborating with Payall and Mastercard towards facilitating cross-border payments, which have traditionally been slow, cumbersome, and risky for payers and financial institutions alike. By making use of Payall’s proprietary tech together with Mastercard’s offering for moving funds globally, the company is enabled to provide its customers with access to international payments in a safe, simple, and expedited manner.
Adding on this, Gary Palmer, CEO of Payall stated that as the company has a focus on international funds transfer compliance, process automation and payment orchestration, they aim to deliver ‘turnkey’ technology and power new paradigms that help eliminate the inefficiencies and address the complexities associated with cross-border payments.
Furthermore, Rasika Raina, SVP of Mastercard Cross-Border Services commented on the collaboration and advised that whether for sending money home to families or working with global suppliers, there is a ‘crucial’ need for fast, reliable, and transparent payments. As per their statement, programmes like this help make cross-border payments increasingly safe, fast, and easy for everyone.
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