Payment processor ECommPay just unveiled that it has gained a MasterCard principal member status on the 29th of April. The company continues its efforts to expand its business partnerships after obtaining a VISA Principal Member earlier this year.
The accompanying license agreements, are valid in all member states of the European Union.
The director of ECommPay’s Cyprus office, Michael Charalambides, said, “Receiving Principal Member status in both VISA and MasterCard is a clear demonstration of ECommPay’s determination and progression in becoming a leader in acquiring solutions.”
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The new status allows us to connect merchants to MasterCard directly, without the necessity of going through a bank-acquirer, which cuts down on time and costs and allows ECommPay to realise new, lucrative projects,” he added.
ECommPay shared that the majority of the firm’s clients are large processing centers and merchants, payment systems, financial organizations, and some other key e-Commerce players centered in Europe, Russia, and the CIS.
The company has obtained an authorized payment institution (API) regulatory status from the U.K. Financial Conduct Authority (FCA).