Manigo, an online banking services provider, has unveiled a programme in partnership with CashFlows and Mastercard, aimed at helping companies to offer next-generation banking and payment products.
The joint proposition delivers full payment card and digital banking capabilities as a turnkey solution - backed by a go-to-market timespan of just a few weeks. Open to companies across Europe, the programme makes it possible to issue Mastercard contactless cards and current accounts, complete with EUR IBAN and UK sort code.
Manigo and CashFlows say they aim to remove the usual regulatory, legal and technical hurdles to new card programmes and enable businesses to issue cards in a simple, cost and time-efficient manner. Designed for a broad range of industry sectors, the programme runs on the Mastercard network and is one of the early offerings of the Mastercard Fintech Express programme. With Mastercard’s presence in 210 countries, any business going to market under this programme also gains strong credentials for expansion into other markets.
“Time and effort should be spent on products and customers, not on trying to reinvent the infrastructure wheel,” said Stevan Bajic, CEO at Manigo, adding: “This will accelerate the launch of new banking and payment products for the benefit of consumers and businesses across Europe.”
“In partnership with Manigo we’re reducing the barriers to entry into banking and card payments significantly,” commented Jonathan Bennett, CashFlows’ chief commercial officer.
“Today’s payments ecosystem is evolving at speed,” said Jason Lane, Executive VP - Market Development, Europe at Mastercard. “It is critical for financial institutions and other businesses to be able to bring their products and solutions to market quickly, at scale and in a highly flexible way. We’re excited to partner with Manigo and CashFlows as this programme will solve real obstacles to the roll-out of new card programmes but also because it was developed under our Accelerate initiative which simplifies the way we work with Fintechs by giving them access to everything they need to grow quickly and offering them a simple, single entry-point to our wide portfolio of specialised programmes.”
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