Collaboration to propel open banking payments in Europe

Mastercard and Nexi Partner to Enhance Digital Payments in Europe

Mastercard is teaming up with Nexi, a leading PayTech company in Europe, to revolutionize digital payments across the continent. Through their strategic partnership, Mastercard’s Open Banking technology will enable seamless and secure e-commerce transactions via Nexi’s gateways, benefiting merchants and consumers alike.

This collaboration aims to build an integrated digital payment ecosystem by leveraging Mastercard’s Open Banking solutions. With open banking, individuals can easily initiate swift digital payments to merchants directly from their bank accounts. This method utilizes existing authentication protocols, including biometrics, to ensure efficient and secure transactions.

Merchants will benefit from real-time payment authorization and settlement, improving cash flow management and revenue streams. By embracing innovative payment technologies, merchants can meet the growing demand for fast and frictionless payment experiences in the digital sphere.

Bart Willaert, EVP of International Open Banking at Mastercard, expressed excitement about the new partnership, stating, “We are thrilled to lead the development of an account-based payment method that will enhance online purchases by offering more seamless and secure payment choices in collaboration with Nexi.”

Omar Haque, Head of eCommerce at Nexi, also shared enthusiasm for the collaboration, emphasizing the power of Mastercard’s open banking solutions to enhance customer convenience and boost capabilities in Europe. By combining their expertise and trusted payment infrastructure, Mastercard and Nexi aim to drive the transition to a digital-first payments landscape in the region.