Mastercard launches Fintech Express in Asia Pacific, Rapyd onboarded as first partner
Payments technology company Mastercard has launched Fintech Express, with payments network Rapyd joining as the first partner in the programme. Mastercard says that Fintech Express provides immediate access to a cross-functional team of experts to support multiple work streams across Product, Partnerships, Licensing and Legal. This has provided Rapyd with licensing as a Mastercard issuer within two weeks, integration with the Mastercard network, and strategic counsel and advisory from Mastercard’s in-market fintech specialists.
As a result of the programme, Rapyd will partner Mastercard on issuing cards for Rapyd’s corporate clients in Asia Pacific. Rapyd’s API-based platform provides a wide range of customised payment solutions to regional and global e-commerce merchants, gig economy platforms, and technology providers, and helps them to quickly integrate payments and fintech capabilities.
Fintech Express is the latest addition to the Mastercard Accelerate platform, which was designed to simplify the way that Mastercard works with fintechs around the world. Through Accelerate, fintechs are offered a single-entry point to Mastercard’s portfolio of specialised programmes that offer support and assistance throughout a fintech’s growth and transformation journey, from market entry to global expansion.
Rapyd plans to use the license to strengthen its issuing capabilities and to extend its portfolio to clients in Singapore and beyond, providing end-to-end B2B and B2C issuing services across Asia Pacific.