Identitii has signed a five-year Master Services Agreement (MSA) with Mastercard, as part of its ongoing partnership with the financial services giant.
Under the agreement, Identitii will licence its Overlay+ platform to Mastercard. The platform is designed to facilitate the ‘secure and auditable’ collection and exchange of financial transaction data.
Go deeper with GlobalData
The agreement allows Identitii to sell its software and services to any Mastercard business across the world.
Commenting on the development, IdentitiiCEOJohn Rayment said: “We are thrilled to announce that we have signed an agreement with Mastercard, who we have had a relationship with since participating in their Start Path programme in 2018.
“What the MSA does is give us the opportunity to licence our Overlay+ platform to any Mastercard business globally. It is the first step in a process, following which we agree specific statements of work which outline how Overlay+ will be used to address particular needs in their business. We look forward to providing an update on specific projects in due course.”
Mastercard has the right to terminate the contract for any reason, with 30 days’ notice. The contract auto-renews for an additional one year period at the end of the five-year period, until called off by either party.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataLast week, Mastercard expanded its partnership with TransferWise to issue cards in any market where Mastercard is accepted and TransferWise is licenced.
Recently, Australia-based Ezypay adopted Mastercard’s tokenisation technology to equip businesses with improved payment security and collection processes.
