Mastercard and Unipaas Partner on Embedded Payments for Vertical SaaS Platforms

Mastercard and Unipaas partnered to help the providers of vertical software-as-a-service (SaaS) platforms embed modern card processing capabilities.

The collaboration aims to digitize and streamline transactions in industries where digital payments remain underused, including health services, education, field services and professional training, the companies said in a Thursday (April 3) press release.

“Many [small- to medium-sized businesses (SMBs)] using vertical SaaS platforms today still rely on manual, offline payment methods, causing inefficiencies, poor user experiences and lost revenue opportunities,” Unipaas founder and CEO David Avgi said in the release. “Our partnership with Mastercard is about changing that.”

By embedding modern card processing capabilities into the platforms used by these SMBs, this partnership will help providers transition their platforms’ users from manual invoicing and bank transfers to card-based payments, improve acceptance rates and transaction speed, reduce operational complexity and overhead, and offer payment options that are more convenient, secure and user-friendly, according to the release.

The collaboration brings together Unipaas’ fully embedded, compliant payment infrastructure and Mastercard’s global payment network and fraud protection, per the release.

“By leveraging our extensive global network and advanced fraud protection, we are enabling [SMBs] using SaaS platforms to enhance their payment experiences, improve acceptance rates and unlock new opportunities,” George Simon, executive vice president of market development at Mastercard, said in the release. “Together with Unipaas, we are empowering [SMBs] using software providers to scale their operations and drive business growth with confidence.”

Embedded finance creates a more streamlined, user-friendly experience and makes payments smooth and accessible, Jennifer Marriner, executive vice president of global acceptance solutions at Mastercard, told PYMNTS in an interview posted in July.

“The future of commerce is at the intersection of new technology and digitization,” Marriner said.

Optimizing the payment process ensures a streamlined experience for platforms, vendors and customers, and opens up a new revenue stream for the businesses that want to own the payment experience, Avgi told PYMNTS in an interview posted in 2021.

“Companies will be the owner of the payment experience,” Avgi said. “They control the flow of funds, and they can monetize payments.”

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