MasterCard and SolarisBank partner for digital banking push
SolarisBank has got principal membership status, and will now operate at MasterCard’s “highest issuer level”, with access to its entire product portfolio.
Dr. Andreas Spengel, vice-president at MasterCard, says it is “excited by the outlook of working together with a young, visionary banking company”.
Both companies have agreed to work on the development of banking modules for the SolarisBank platform. This is called Solaris – a Banking as a Platform (BaaP) service, which was created in partnership with fintech incubator FinLeap. Recently, Devie Mohan interviewed FinLeap’s co-founder, Ramin Niroumand for Banking Technology.
In a first step, the debit MasterCard will be brought to the platform. In the following months, wallet services and mobile payment will be added.
SolarisBank says the partnership will give it access to MasterCard’s infrastructure throughout 210 countries with over 43 million acceptance points around the world.
In addition to working on contactless and mobile payment options, the partnership will also focus on transaction opportunities in e-commerce.