#USA #Amsterdam #Mastercard #Xryma #PaidBy

Introduction

In a groundbreaking move, Mastercard and PaidBy®, the global account-to-account (A2A) payment platform developed by Xryma Plc, have announced a strategic partnership aimed at revolutionizing the global payments landscape. This collaboration focuses on enhancing the adoption of A2A payments through Open Banking, thereby facilitating seamless cross-border transactions for businesses and consumers alike.

An Overview of the Partnership

The partnership between Mastercard and PaidBy® combines their strengths to create one of the first scalable cross-border A2A payment models. As of now, Open Banking payments are predominantly executed within national boundaries, which forces businesses to operate through fragmented systems. This not only hinders their growth potential but also complicates their ability to engage with global markets.

To address these challenges, the collaboration introduces a unified framework that integrates connectivity, orchestration, and settlement processes. Mastercard brings to the table its vast global connectivity and network trust, which are crucial for making cross-border A2A payments both viable and advantageous for businesses. Complementing this, PaidBy® contributes its proprietary orchestration layer, alongside an efficient cross-border settlement infrastructure and dynamic currency management capabilities.

Benefits to Businesses and Consumers

With this partnership, consumers can now make purchases directly from their bank accounts in their local currency. In contrast, merchants will enjoy the convenience of receiving settlements in their preferred currency. This translates to simplified reconciliation and faster settlements—often on the next business day—in all markets.

The alliance is intentionally designed for global merchants, payment service providers (PSPs), and platforms, creating a robust foundation for expanding A2A payments beyond domestic use cases into global commerce. Initially, this collaboration enhances PaidBy®’s real-time A2A payment capabilities in Europe and the UK, aiming to provide a comprehensive service that meets the demands of a modern digital economy.

Statements from Key Executives

Nikogiannis Karantzis, CEO of Xryma Plc, emphasizes the importance of this strategic alliance: "Open Banking is at a tipping point, but its full potential is contingent upon scaling beyond national markets. Working with Mastercard, we are merging connectivity, orchestration, and settlement into a singular global model, empowering merchants to transition from fragmented A2A payment configurations to a truly international payment experience."

Similarly, Valerie Nowak, Mastercard’s Director of Open Finance for APEMEA, stated, "A2A payments are evolving from a local alternative to a global opportunity. Our collaboration integrates a robust orchestration capability with Mastercard’s reliable global network and scalability, enabling businesses to transcend fragmented payment setups and make A2A payments a viable global payment method."

Future Prospects

As part of their Open Finance strategy, this alliance underscores Mastercard's commitment to building an interconnected ecosystem that supports a variety of payment experiences, including account-based payments and value-added services in digital commerce. Both companies are poised to explore additional value-added services to integrate A2A payments further into the broader payments and digital commerce landscape.

This partnership arrives at a time of increasing global demand for faster settlements, reduced friction in payments, and greater visibility into cash flow as businesses increasingly seek alternatives to traditional payment systems for cross-border transactions.

About PaidBy®

PaidBy® is the Open Banking platform developed by Xryma Plc that facilitates account-to-account payments, cross-border settlements, and merchant payouts in local currency globally. Built on regulated banking and payment infrastructure, PaidBy® connects banks, financial institutions, and businesses across central banking and payment networks in multiple jurisdictions.

About Mastercard

Mastercard powers economies and empowers people in over 200 countries and territories worldwide. Along with its clients, Mastercard strives to build a sustainable economy where everyone can thrive. The company provides a wide range of digital payment solutions that ensure transactions are secure, simple, smart, and accessible. Through technology, innovation, partnerships, and networks, Mastercard's products and services help individuals, businesses, and governments to realize their full potential.

For more information, visit the websites of PaidBy and Xryma, or learn more about Mastercard.