New alliance set to take global payments technology to new levels

New alliance set to take global payments technology to new levels
IMAGE: Rowan Brewer, CEO at Paymentology

Fintechs, Paymentology and Tutuka, have announced a merger to create a new global payments and card processing organisation.

According to a statement, the merger, operating under the Paymentology name, creates a new force in payment solutions, giving banks and fintechs the technology to seamlessly issue and process Mastercard, Visa and UnionPay cards, across 49 countries.

The move brings together over 270 payments and technology experts, working across both developed and emerging markets, serving customers in 49 countries, across 14 time zones – and a platform that is already processing $10 billion in transactions each year.

Previously, banks and fintechs had to work with a multitude of card processors to reach a global market. Now, through Paymentology, they can integrate into a single API, go live and issue cards almost anywhere in the world, explained the statement.

They can then rapidly scale beyond that, as Paymentology can process client cards on the company’s shared platform, and upgrade clients to a dedicated platform just for that client, or in particular countries – a feature not available through any other processor.

“Banks and fintechs are racing to provide customers with digital and data-driven features. They are highly receptive to working with a single issuer-processor that can provide that, across the globe,” said Rowan Brewer, CEO at Paymentology.

“People want to be able to pay with a virtual card – sometimes online, sometimes tapping their phone – but everything digitally. Banks, digital banks and fintechs need support and expertise to help them issue cards and process payments,” concludes Brewer.