Mastercard and Pagero partner to expand businesses access to seamless digital paymentsFebruary 5, 2024 | Stockholm, Sweden
Mastercard and Pagero today announced the integration of Mastercard’s Cross-Border Services offering Pagero’s business customers access to fast, transparent, and convenient cross-border and domestic payments.
Pagero, based out of Sweden, provides a global business network connecting buyers and suppliers to simplify purchase-to-pay and order-to-cash processes through digital communication. More than 90 thousand businesses are directly connected to Pagero’s platform and their global network reaches more than 14 million businesses across the globe. By integrating with Mastercard´s Cross-Border Services, Pagero will now support account-based cross-border and domestic payments, significantly scaling the connectivity of its payments offering to better align with the reach of its global network.
Businesses will benefit from upfront transparency around delivery timing, foreign exchange rates, costs as well as visibility into payment status in real-time. Payment delivery is near real-time or same day to most countries and currencies. The solution will be rolled out in a phased manner with more corridors and features available over time.
“Together, Mastercard and Pagero are making cross-border business-to-business payments digital, simple and accessible for businesses, enabling them to focus on growing their core business domestically and internationally”, says Danesh Etemadi, Chief Business Area Officer at Pagero.
“We are excited to partner with Pagero with our joint offering and help businesses thrive in the digital economy. By connecting Pagero’s platform to our global network their customers will get access to seamless cross-border and domestic payments underpinned by the reliability of the Mastercard network”, says Erik Gutwasser, Division President, Nordics and Baltics at Mastercard.
Cross-Border Services is part of Mastercard’s range of international money transfer solutions. Participating financial institutions can offer their customers international payments to over 180 markets, including a global payout network of over 150 currencies and 2.5 billion payment cards, with access to more than 95% of the world's banked population.
“Pagero and Mastercard have spent some time combining our joint knowledge of expertise within the payment space and I am very excited to see the result. I look forward to this launch and a more digital and seamless business payment landscape”, says Jonas Edlund, Corporate Sponsor and co-founder of Pagero.
Pagero provides a Smart Business Network that connects buyers and sellers for automated, compliant, and secure exchange of orders, invoices, payment instructions and other business documents. With an open network and a wide range of value-added apps, Pagero helps businesses streamline their order-to-cash and purchase-to-pay processes while unlocking the full potential of accurate and reliable business data. All of this, regardless of location, industry, size or systems. Find out more on www.pagero.com.
About Mastercard (NYSE: MA)
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.