Monese and Mastercard form a European partnership

The purpose of the agreement is to offer local banking services to consumers across Europe, including Portugal. Customers of British 'fintech' multi-currency accounts now have access to the global Mastercard card acceptance network.

The American company Mastercard and fintech British company Monese announced on Wednesday that they had formalized a multi-annual partnership to offer local banking services and electronic payments to consumers across Europe, including in Portugal.

The agreement makes the digital bank the main issuer of Mastercard cards and the customers of the accounts multi-currency have access to the global acceptance network for these cards, present in millions of points of sale worldwide.

In a statement, the companies explain that many of Monese's customers work in the economy gig (freelancer), are independent or live in a European country other than the one in which they were born and, as such, do not always find an answer in traditional banking. Thus, this protocol the couple is committed to offering all the features available in the card industry and innovative payment resources.

In the opinion Norris Koppel, founder and CEO of Monese, considers that “it allows to develop an ambitious localization strategy” that has been followed for several years and that leaves them “positioned for the company's next growth phase, particularly in the UK markets. and Europe ”.

In July, Monese became the first European neobank to offer French IBANs to customers. Betting on local IBANs makes it easier for customers in these countries to make local transactions and receive wages directly into accounts, as foreign IBANs are not always accepted by employers. "We are committed to offering more local experiences to our customers in various European markets, as well as making it easier for those who do not find the service they need to manage their money in traditional banking", guarantees the head of the company.

A view that is shared by Mark Barnett, European president of Mastercard, who recalls that the multinational “is committed to bringing consumers into the digital financial economy, including those who, for whatever reason, find in traditional services an answer to their needs ”.

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