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Follow on Google News | Paycast Partners With Marqeta and Mastercard For New Marketplace Payment SolutionBy: Marqeta Specialising in high-value and time-sensitive transactions, Paycast enables marketplaces to hold funds in escrow between buyers and sellers until the conditions of sale have been verified. The ability for marketplace sellers to access these funds immediately on a virtual card provides more choice and a modern experience for accessing proceeds quickly and securely. Marqeta is supporting Paycast with its fully-documented open API platform, which enables digital builders such as Paycast to create modern financial products with control and speed. Paycast will leverage Marqeta's virtual card functionality, which will give Paycast customers the ability to participate in the authorisation process and set rules that can support anti-fraud measures and provide opportunities for loyalty and reward schemes for their sellers. Marqeta and Mastercard have provided strategic funding to SPG to enhance the Paycast proposition. Mastercard will enable the use of the virtual cards on its global card network, providing industry and functional expertise as well as collaborating on customer growth initiatives and marketing. Mastercard continues to invest in its expansive developer platform, Mastercard Developers, to be the partner of choice for fintech innovators across Europe, taking a relationship, technology-led and mission-aligned approach to partnering with fintech companies. "In the past 12 months we've seen a significant growth in online marketplaces, yet at the same time there is a lack of payment options for acquirers, marketplaces and their sellers. Paycast aims to rectify that by bringing to market a new solution that will provide sellers with one single place to manage all their payments," said Elle Kim, Managing Director of Paycast. "Marqeta is the ideal partner to help us bring our vision to life, thanks to its simple, easy-to-use suite of APIs that we've been able to use to launch and quickly scale Paycast, and with our shared global ambitions there's a strong synergy." "We're excited to support the launch of Paycast, which we think will be an important new payment tool for online marketplaces," End
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