Mastercard strengthens relationship with European PayTech


Mastercard has strengthened its position as a leading facilitator of PayTech innovation in Europe, unveiling new partnerships with CleverCards and EML.

CleverCards is a fast moving payments technology start-up, which is aiming to re-invent money by allowing any business to send digital Mastercard’s directly to the mobile wallet of a customer or employee by email, SMS, WhatsApp or any messaging application.

Scott Abrahams, Senior Vice President, Business Development and Fintech at Mastercard, commented: “This is money reimagined for businesses and consumers. We are delighted to have partnered with CleverCards and EML to offer businesses the option to pay anyone, anywhere, anytime instantly, while delivering the highest standards of payment safety, security and regulatory compliance.”

CleverCards delivers a technology platform-as-a-service that enables renowned businesses to rapidly deploy payment applications focused on improving instant customer payment experiences for everyone.

Powered by a deep partnership with both Mastercard and EML, CleverCards has been able to deliver this first-to-market solution. EML, which holds an e-money license from Ireland, is the first European issuer and transaction processor to integrate with CleverCards, with its proprietary processing system providing CleverCards with a link to the Mastercard tokenization.

Together, Mastercard and EML have worked to develop the underlying services to enable the CleverCards platform launch in Europe.

Kealan Lennon, founder and CEO of CleverCards, added: “We look forward to continuing to innovate with Mastercard and EML over the next few years as the pace of change in payments, favours those who can be the most agile.”

Building on this partnership, CleverCards will expand globally this year, taking on clients who want to get to market quickly with business to consumer payment requirements such as customer and employee rewards, expenses and other consumer payouts.

Nikki Evans, COO EML Payments Europe, concluded: “The CleverCards platform is redefining our industry and challenging what is possible. In practically every industry category, digital has overtaken physical and we share CleverCards vision of this future.

“As a leading global player in the prepaid market, EML Payments are delighted to partner with CleverCards, opening up exciting new opportunities for our customers.”