FreedomPay Teams With Mastercard to Bolster International Commerce

Commerce technology firm FreedomPay has launched a partnership with Mastercard.

The collaboration, announced Monday (Jan. 13), is designed to give businesses a “simplified and extended global payment gateway solution,” while also streamlining their ability to connect with acquirers and accept a broader array of payment methods.

“The complexity of navigating diverse payment systems across borders can hinder the growth of international commerce,” Chris Kronenthal, FreedomPay’s president, said in a news release. “By joining forces with Mastercard, we are breaking down these barriers and empowering merchants with a single, unified platform for seamless global transactions.”

The partnership will use FreedomPay’s presence in North America, Europe and Latin America, and Mastercard’s global network to offer businesses worldwide more options for connecting to payment systems and processing transactions.

Customers will get access to more than 230 acquirers and acceptance of a range of local and global payment methods, as well as enhanced security, simplified integration and access to things like business intelligence and advanced fraud prevention tools.

“Mastercard is committed to providing businesses with the tools and flexibility they need to thrive in today’s dynamic global market,” said Kaushik Gopal, executive vice president, Mastercard Enterprise Gateway Solutions. “This partnership with FreedomPay enables us to deliver a best-in-class payment gateway solution that simplifies cross-border transactions and unlocks new growth opportunities for our customers.”

PYMNTS explored the cross-border payments space at the close of last year, focusing on various trends shaping the sector, including the need for instant payments.

“The demand for real-time transactions has skyrocketed, fueled by the expectations of consumers accustomed to instant gratification in their personal lives,” that report said. “In 2024, cross-border payments worked on catching up, with innovations in instant payment infrastructure taking center stage.”

For businesses, instant payments can provide improved cash flow and supplier relationships, while also reducing their reliance on credit. And for consumers, instant payments do away with the frustration of waiting days for funds to clear. As real-time payment networks grow and interconnect, they will likely turn into one of the default modes for cross-border transactions.

In the end, as PYMNTS’ Karen Webster noted in an interview posted last fall, any focus on cross-border innovation needs to be honed in on solving key frictions: moving money securely and safely, delivering transparency and optimizing the economics of cross-border transactions.