These solutions will be accessible through Payrails’ modular payment operating system, allowing customers to use their preferred payment methods. Credit: Mastercard.

Mastercard has teamed up with paytech company Payrails to speed up digital payment transformation for large enterprises.  

This alliance integrates Payrails’ payment optimisation expertise and Mastercard’s network and technology, aiming to provide payment solutions that streamline transactions and enhance financial operations for global businesses. 

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The partners will jointly create payment acceptance products that will be integrated into enterprise systems.  

These solutions will be accessible through Payrails’ modular payment operating system, allowing customers to use their preferred payment methods.  

The initial focus of the partnership will be the UAE, with plans for global expansion, addressing the high-volume transaction needs of large enterprises across multiple markets. 

It is said to support diverse payment methods and enable businesses to provide customised, region-specific checkout solutions to its customers. 

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The partnership is said to help acquirers increase transaction volume, simplify onboarding, and meet the complex payment requirements of enterprises. 

Mastercard EEMEA market development executive vice president Amnah Ajmal said: “Building on our shared long-term commitment to driving continuous innovation and transforming the digital payments landscape, our strategic collaboration with Payrails will reinforce our position as a trusted network that powers the modern digital economy.”  

Payrails CEO and co-founder Orkhan Abdullayev stated: “We are delighted to team up with Mastercard to deliver unparalleled payment solutions that enhance transaction security, offer unprecedented scalability and reduce time to market.  

“The collaboration will enable us to consolidate our reputation as the payment platform of choice for leading enterprises seeking regionally relevant digital payment infrastructure that aligns with global needs, in addition to expanding the reach of our advanced payment operating system.” 

Last month, Mastercard reported its Q4 2024 results, with net income standing at $3.3bn, up 22% on a currency-neutral basis compared with Q4 2023. The company attributes this growth to higher consumer spending during the holiday season amid a strong economy.  

For the full year of 2024, Mastercard’s net income reached $12.9bn, a 17% increase on a currency-neutral basis from $11.2bn in the previous year.