A delayed or misdirected payout can have drastic effects on the recipient. A recent report from Mastercard found that 76% of consumers would have trouble supporting themselves in the event of a late or failed cross-border payment.
Despite powerful modern payments technology, around a third of cross-border payments users have reported payment issues.
To meet the demand for secure and swift payouts, Verituity partnered with Mastercard Move to introduce a new approach to the process. The cloud-based platform streamlines verification tasks, ensuring timely payouts on the first attempt. It will be available for both domestic and cross-border transactions.
Pay By Anything
Mastercard Move is a collection of global payments solutions that focus on both domestic and cross-border payments. The portfolio is backed by Mastercard and delivers trackable payments, transparent fees, and prompt payment. The partnership will expand Verituity’s reach, while saving Mastercard Move partners costly verification and payment failure expenses.
Beyond security, the platform offers a flexible pay-by-anything approach that allows payers greater control over the disbursement experience—and it’s now accessible in 140 countries. By and large, recipients can receive their payouts in the manner that works for them.
“In today’s global economy, the ability to make and receive payments quickly and easily is crucial,” said Sherri Haymond, executive vice president of Global Digital Partnerships at Mastercard in a prepared statement. “Mastercard Move enables secure, near real-time payment transfers to and from billions of card, bank and digital accounts globally.”
