Online payment service provider Allied Wallet will now be able to issue MasterCard and Maestro cards in various regions of Europe after being licensed by MasterCard as an official issuer.
After being examined to be on par with MasterCard’s strict regulations for financial institutions as card issuers, Allied Wallet was granted the license from MasterCard. Allied Wallet’s license will allow the firm to issue MasterCard and Maestro cards in numerous regions in the EU including the UK, Germany, France, and Spain.
Similar to other digital wallet services like Google Wallet, Payoneer, and most recently Webmoney, the Allied Wallet MasterCard and Maestro cards will be associated to the user’s online account. When charged the amount will be deducted from the user’s account balance.
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“Allied Wallet has strived to connect consumers and business owners from all over the world, connecting 196 countries and giving them a safe way to transact internationally and this issuing license will give us an even better way to service our eWallet users,” said CEO Andy Khawaja.
Allied Wallet currently supports over 100 million registered users. All users located in the supported regions of the MasterCard issued license will be eligible to apply for a card. The card will allow Allied Wallet users to use their account wherever MasterCard is accepted.