Payments platform Clevercards.com has signed up to a ‘strategic partnership’ with Mastercard to expand the use of digital cards in Europe.
The purpose of the CleverCards platform is to simplify payments so that anyone can be be paid instantly by businesses. The company has already worked with Mastercard since 2019 and will also join its Fintech Express programme.
According to CleverCards, its technology simplifies the payments value chain, and enables businesses to bypass several intermediary card issuing processes to send a prepaid digital Mastercard ‘card’ direct to an email address or mobile phone number. The recipient can instantly spend their funds online or in-store using digital wallets such as Google Pay, Samsung Pay and Apple Pay to make secure contactless payments.
Chief executive Kealan Lennon (pictured) said: "Beyond the support and integration of Mastercard technologies into our platform, this partnership is a major boost for CleverCards, providing us with unprecedented access to Mastercard business development teams in key markets and to key commercial clients.
"Along with their brand endorsement and marketing support, this will significantly accelerate CleverCards' opportunity to scale its growth in Europe and the US.”
In Association with
Mastercard executive vice president Europe Jason Lane added: "The 2020 landscape saw the shift to digital payments accelerate, both for online and in-store via contactless. As the European partner of choice for leading fintechs, we are proud to help them play a significant role in driving this shift towards digital economies. To that end, we are delighted to take our alliance with CleverCards to the next stage.”
According to Lennon, since the platform was launched in December 2019 it has already attracted more than 5,000 businesses. Among its uses are payments in the gig economy, compensation payouts and employee expenses and benefits, as well as consumer claims such as those by insurance companies or airlines.
For example, for gig economy workers the system provides a competitive advantage by facilitating 'work today - get paid today'. With no bank account needed, they can simply manage their earnings using their app and earnings are instantly topped-up to a digital Mastercard card on their phone.
Other clients have used it to order and send company-branded digital gift cards, incentives and rewards, via email, SMS or other messaging services, to employees or customers anywhere, who can use them immediately everywhere that accepts Mastercard.
Pic: Fergal Phillips
