Following a rigorous application process, Mastercard has welcomed PayAlly to its card network as a Principal Member. As a Principal Member, PayAlly can expand its services and provide clients with a wider range of financial solutions.
Active in more than 210 countries and territories, Mastercard is a dominant force in the market and widely recognised as a major global card network. As a Principal Member of the network PayAlly can now deliver even more services to its clients, such as BIN sponsorship, card issuing, and payment processing.
As well as reflecting PayAlly’s success, this marks an exciting development for our clients too. With an added range of services now available directly from PayAlly, clients can benefit from enhanced, integrated financial solutions and create tailor-made service packages that meet their needs and growth objectives.
Commenting on the latest announcement, PayAlly’s CEO, Rafal Andzejevski, says, “I am delighted to confirm that PayAlly has been authorised by Mastercard as a Principal Member. This reflects PayAlly’s regulatory, technical, and commercial expertise and marks an important milestone in our company’s evolution. As we capitalise on the opportunity to deliver an updated range of services to our clients, we’re excited to expand our operations and assist our customer base in achieving their goals too.”
To achieve Principal Member status, financial institutions must undergo a robust application process that incorporates financial forecasts, business plans, information regarding anti-money launching (AML) protocols and compliance with scheme rules, as well as regulatory requirements.
PayAlly’s exemplary performance, combined with our in-house expertise, ensured we successfully navigated the detailed application process and met all eligibility requirements. This exemplifies PayAlly’s success thus far and enables us to strengthen our relationship with the global card network.
In addition to providing a new suite of financial solutions to our clients, PayAlly’s status as a Principal Member of the Mastercard network grants us access to a range of benefits, such as direct systems access and access to insights and analysis, as well as more competitive fees and lucrative incentive options.
As PayAlly continues to grow, our role as a Mastercard Principal Member will enable us to expand our operations and continue serving our client base with innovative, effective, and customisable financial solutions. With strategic support and hands-on guidance from our experienced Relationship Managers, clients can utilise our ever-evolving range of financial services and products and our status as a Mastercard Principal Member to optimise performance and achieve their commercial objectives.