Mastercard and myPOS, a pan-European fintech, signed a strategic partnership agreement to promote card payment solutions to SMEs across Europe. Working together, the partnership will raise awareness among small businesses of the innovative solutions to accept card transactions; designed to meet their needs at a price that fits their budget.
SMEs underpin the European economy, representing 99% of all businesses, but, traditionally, the ability to pay by card in such businesses has been variable and patchy. This was, in part, due to the lack of cost-effective card payment terminals, but also to the difficulty in engaging with small business owners to raise awareness of the benefits of cards and the solutions available. This new partnership will enable Mastercard and myPOS to tackle these challenges head on.
Leveraging Mastercard’s global network and technology, myPOS offers innovative, flexible and affordable payment acceptance services under a unified commerce approach, streamlining all payment channels into one integrated platform. Whether selling via mobile, online or at the counter, myPOS not only enables card payments but their business-in-a-box solution brings many other benefits to small businesses. This includes multi-currency and cross-border payments, myPOS mobile app, a business debit card and instant payouts, making it easier for merchants to manage their finances.
This announcement builds on the recent partnership between Mastercard and myPOS to issue Mastercard debit cards to their merchants. This will empower merchants to better manage their finances and drive greater financial inclusion.