Following this announcement, the solution is set to give eligible tourists in Spain in Portugal the possibility to opt for instant tax refunds when using Travel Tax Free’s Traveller Wallet. The product was developed in order to streamline Tax Free management and reimbursements.
As travelers and clients are increasingly looking for faster and more convenient payment methods, the firms will focus on meeting their needs, preferences, and demands for quick and secure transactions, both in-store and when receiving funds. At the same time, retailers will be enabled to cater to clients who prefer digital payment methods, in order to improve their overall shopping experience.
At the same time, the partnership will also aim to equip retailers with the necessary products and services to streamline their operations and drive sales and development.
Mastercard’s suite of remittance-related products offers payments by leveraging its global network, in order to be delivered to bank accounts, digital, and mobile wallets, cash, and cards in multiple regions of the world. The company had several partnerships and product launches in the last couple of months, covering several different geographic areas around the globe.
At the beginning of November 2023, the European payments and banking services provider FinXP announced its collaboration with Mastercard in order to introduce the new FinXP PLUS product. By using Mastercard’s Cross-Border Services, this partnership aimed to extend FinXP’s capabilities by providing its global client base with access to a broader range of payment options.
FinXP PLUS was developed in order to modernise corporate cross-border payments by providing a proprietary platform that delivers secure transactions to over 100 countries, accommodating various currencies, such as USD, GBP, EUR, CAD, CHF, TRY, PLN, SEK, DKK, NOK, PHP, or COP. Throughout the collaboration, FinXP expanded access to Mastercard’s network to its clientele, such as ecommerce enterprises, professional solutions firms, and merchants specialising in sectors, including fintech, blockchain, or iGaming.
Earlier in the same month, Mastercard announced its partnership with First Abu Dhabi Bank in order to launch the new SlicePay BNPL card for users in the UAE region. Following this strategic deal, FAB was set to release the SlicePay card under its Dubai First trademarks in the region of the United Arab Emirates, which represented the debut of the Mastercard Installments Program in the Eastern Europe, Middle East, and Africa (EEMEA) area.
As the SlicePay card was powered by the Mastercard Installments Programme, equal payments were set to be made without any client fees or interest. All purchases and payments made with the services were backed by Mastercard’s user protection tools.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now