PaidBy, Mastercard partner for A2A payments

PaidBy, the global account-to-account (A2A) payment platform developed by Xryma Plc, and Mastercard announced a strategic partnership to accelerate the global adoption of open banking-powered A2A payments and enable seamless cross-border commerce. This collaboration aims to address the current fragmentation of open banking payments, which are largely domestic, by introducing a scalable cross-border A2A payment model. Mastercard will provide global connectivity and scale, while PaidBy will contribute its orchestration layer, cross-border settlement infrastructure, and dynamic currency capabilities. The partnership will enable consumers to pay merchants directly from their bank accounts in their domestic currency, with merchants receiving settlement in their preferred local currency. Initially, the collaboration will expand PaidBy's real-time A2A capabilities across Europe and the United Kingdom. Nikogiannis Karantzis, CEO of Xryma Plc, and Valerie Nowak, Head of Open Finance APEMEA at Mastercard, both emphasized the importance of this partnership in scaling open banking beyond domestic markets and unlocking A2A payments as a viable global payment method.