Mastercard and Form3 partners for real-time payments
In recent times, real-time payments have become a hot topic as it serves the next-gen payments revolution. It has become a key component as well as the differentiating factor amongst commercial payment companies.
In such a London based payments technology company, Form3 has partnered with Mastercard along with investment. Under this partnership, the two will help banks and financial institutions around the world ‘connect with domestic and international payment platforms more seamlessly, reliably and securely’.
Last year, NCS and NETS signed an agreement to develop a real-time payments system while The Clearing House upped its game in real-time payments in the US. VSoft also launched a business network for real-time B2B payments.
Form3 back in August had raised $33 million from Lloyds Banking Group, Nationwide Building Society and venture capital firm 83North.
“Our partnership with Mastercard will enable Form3 to accelerate its ambitions to grow on an international scale while complementing the services we have today and those we are building for the future”, said Michael Mueller, Chief Executive Officer at Form3.
Adding further he said, “the power of cloud-based architecture to safely and securely handle significant payment processing volume in near real-time is now a very real opportunity for large financial institutions”.
Form3 is a certified UK Faster Payments Aggregator with Pay.UK and also offers a complete suite SEPA suite for European payments.