Mastercard's cooperation with Verestro, previously operating under the name uPaid, has been going on for 10 years – fintech is a partner of the Mastercard Engage program. Now the time has come for its next stage. A technology company providing banks with payment solutions in their current partner has also found an investor. In addition to money (the amount is not disclosed), Mastercard offered support and business contacts that can accelerate the development of fintech abroad.
Apart from Warsaw, the company already has offices in Sofia, New York and Sao Paulo. Apart from Poland, the company generates 85 percent of its revenues. It provides its tools and services to customers from over 20 markets – from Central and Eastern Europe through the Middle East and the United States to the markets of Southeast Asia. Tomasz Kupka, head of sales at Verestro, announced that fintech will focus on further foreign expansion, seeking to open offices in Dubai and Singapore. The plan convinces Mastercard.
"Poland is an advanced market when it comes to the development of non-cash payments. This makes our country a candidate for a regional fintech hub in which promising companies with the potential of international success develop. At MasterCard, we believe in this success, which is why we support companies such as the operator Blik, i.e. Payment Standard, or Verestro,” Bartosz Ciołkowski, general director for Poland, the Czech Republic and Slovakia at Mastercard Europe, pointed out.
(Puls Biznesu) https://www.pb.pl/mastercard-zainwestowal-w-polski-fintech-995941