Global payment technology firm MasterCard and Berlin-based SolarisBank have signed a strategic agreement to develop new payments modules for digital startups.
After receiving the principal membership status, SolarisBank will now operate at MasterCard’s highest issuer level, with access to its entire product portfolio.
Both firms have agreed to partner for the development of banking modules for the SolarisBank platform.
The German lender said that a debit MasterCard with combined benefits of a debit card and credit card will be released on the SolarisBank platform. In the following months, wallet services and mobile payment will be introduced as further banking bricks.
SolarisBank board member Marko Wenthin said: “Our strategic partnership with MasterCard allows us to use the global infrastructure of a market leader.
“With our B2B2X approach we will be able to reach millions of customers all over the world through our partners while profiting from MasterCard’s network.”
The collaboration is the next milestone in SolarisBank’s expansion strategy, and will offer the lender access to MasterCard’s infrastructure across 210 countries with over 43 million acceptance points globally.
MasterCard vice president Andreas Spengel said: “The potential for innovation offered by SolarisBank and its powerful commitment to changing the global banking industry are clear to us.
“We’re excited by the outlook of working together with a young, visionary banking company on developing innovative digital solutions.”