Mastercard Partners with Cardstream to Accelerate UK Adoption of Digital Services
Cardstream, a UK independent provider of white label payment software and services, has partnered with Mastercard for its latest strategic initiative. In an effort to accelerate the adoption of Mastercard’s latest digital payment innovations, Cardstream will make Mastercard’s Secure Remote Commerce (SRC)-ready Masterpass V7 wallet and its “Pay by Bank app” available via API connections. This will allow the services to connect to Mastercard’s network of payment service providers (PSPs), independent software vendors (ISVs) and independent sales organisations (ISOs).
Masterpass V7 adds EMVCo's SRC framework to Mastercard’s digital wallet. The framework, which is backed by all the major card schemes in the UK, aims to replace the array of payment options currently on offer and provide consumers with a single common checkout experience.
In addition, 'Pay by Bank app’, created by Mastercard’s Vocalink business, enables customers of UK businesses to make secure online payments for goods and services via their banking app and directly from their bank account.
“Despite the benefits on offer, busy development cycles can make it difficult for payment providers to take immediate advantage of important industry innovations,” said Adam Sharpe, CEO, Cardstream. “Our white label platform provides the connective tissue to ensure that our network of PSPs, ISVs and ISOs can quickly and easily integrate Mastercard’s latest services into their product stack. We’ve done the integration heavy lifting so that our partners don’t have to.”