Paytently has announced its partnership with Mastercard in order to launch an optimised Open Banking payment solution.
Following this announcement, the Paytently Open Banking solution was powered by Mastercard Open Finance, an account-to-account payment option at checkout that lets customers pay directly from their bank, while also optimising the way merchants increase conversion rates and improve cash flow.
By leveraging Mastercard’s Open Banking connectivity and Paytently’s orchestration layer, Paytently Open Banking is set to streamline payments end-to-end, as well as to bring secure bank authentication, payment initiation, and optimised reconciliation within a single flow for improved operational efficiency. In addition, Paytently’s proprietary orchestration engine will route each transaction over an effective rail for instant payment confirmation and faster settlement.
More information on the Paytently x Mastercard partnership
According to the official press release, this collaboration marks a significant step forward in the shared commitment to deliver robust, scalable, and secure payment solutions for sectors that demand more from their payments partner. Through the process of combining Paytently’s orchestration expertise with Mastercard’s Open Banking technology, the initiative will enable merchants to move money faster, reduce operational friction, and ultimately develop a more secure and efficient experience for their customers.
Furthermore, the partnership reflects a strong alignment between Mastercard’s global scale and Open Finance infrastructure, and Paytently’s agility and expertise in orchestrating payments for various sectors. The companies aim to bring an optimised Open Banking payment solution to market that delivers on speed, reliability, and customer experience.
Both Mastercard and Patently are set to continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
