Paysafe and Mastercard extend strategic partnership

Paysafe, a leading specialised payments platform, has today announced an expanded strategic partnership with Mastercard. The new agreement is designed to support Paysafe’s growth and card acceptance in the European Economic Area (EEA) with a particular focus on Paysafe’s card issuing solutions, including its Skrill Prepaid Mastercard® and NETELLER Net+ Prepaid Mastercard®.

Paysafe has been a Principal Member of the card scheme since 2013. As part of the new agreement, Mastercard will support Paysafe’s product development and innovation, including digital enablement for its services. The focus of the new partnership will include enabling digital payment methods such as Apple Pay and Google Pay.

Lorenzo Pellegrino, CEO of Skrill, NETELLER and Income Access at Paysafe – responsible for the company’s card issuing division – commented: “At Paysafe we have a relentless focus on creating a leading customer experience for both our consumer and merchant customers, and that includes our ability to innovate and scale in order to meet demand. We value the role that Mastercard plays in supporting us to do this.”

Scott Abrahams, Senior Vice President, Business Development and Fintech at Mastercard in the UK said: “We are delighted to be entering this next phase of our relationship with Paysafe, supporting their ambitions to leverage prepaid and e-commerce acceptance across Europe as they grow.”

In Europe alone, Mastercard is the partner of choice for more than 60 digital banks and fintechs, which has doubled in the last two years, and is testament to our strategy of working with fintech partners from their inception. Mastercard Start Path is an award-winning programme that enables later-stage tech start-ups to rapidly scale through unparalleled access to Mastercard’s technology, solutions expertise and global partnerships.