The collaboration comes as the growth of fintech continues to accelerate, something which both companies are at the forefront of.
Scott Abrahams, Senior Vice President, Business Development & Fintech, UK&I at Mastercard commented: “We have long worked alongside GPS, together enabling the fintech industry to thrive. We are delighted to take our partnership with them to the next level by welcoming them into our Mastercard Fintech Express programme.
“Our joint ambitions are to foster payments innovation and further drive the transition to a digital economy, propelling the rapid growth of fintech and providing consumers with greater choice. Our Fintech Express programme enables leading innovators such as GPS to scale at speed, cementing our position as the partner of choice for fintechs across Europe.”
GPS is well positioned to bolster fintechs, challenger banks and e-wallet providers in navigating the complex payments ecosystem and supporting growth journeys from the same global platform, with a single API integration.
Joanne Dewar, Chief Executive Officer of Global Processing Services, commented: “GPS and Mastercard have led the charge in the fintech industry globally over the last decade. Through its early support of nascent e-money issuance and the use of prepaid, Mastercard has created what we now know as fintech, and what we all believe is pivotal to the future of mainstream payments.
“Together, we have broken new ground in the fintech space, addressing real world challenges and enabling financial empowerment for everyone – this announcement officially cements our partnership.”
Expert Analysis: The growth of fintech has never been so pivotal to the payments ecosystem, the selection of GPS by Mastercard affirms that the firm is making significant moves within the space.