International payment services provider Paysafe Group Plc (LON:PAYS) today announced that it is chosen by Payfriendz to enable the launch of its P2P social payments app and virtual MasterCard solution.
As a result of the partnership, Paysafe provides Payfriendz with a set of payment processing and card services. A Principal Member of MasterCard and authorised by the UK Financial Conduct Authority to issue e-money in the European Economic Area, Paysafe also has acquiring licences from MasterCard Europe and Visa Europe. Paysafe provides users of the Payfriendz social payments app with the capability to load and hold funds in their Payfriendz account, and spend online using a virtual MasterCard.
Volker Breuer, CEO Payfriendz, says,
“Our vision is to make social payments fun. To deliver an outstanding app and payments experience for our users we need a world-class payments specialist to seamlessly integrate into our platform. We chose Paysafe – with all its experience and reach – to join us on our journey and make people #forgetcash!”
Andrea Dunlop, CEO of Paysafe Card Solutions and Acquiring, says,
“Our new partner Payfriendz is one of the most exciting new startups we have seen in the money transfer space. We are delighted that they chose Paysafe to provide acquiring, payment processing and card solutions using our full end-to-end service.”
You can view the announcement from Paysafe on its latest collaboration by clicking here.