Paysafe Group to offer payment processing, card services to Payfriendz
Payfriendz, a London-based social payments app, has chosen UK-based payments provider Paysafe Group.
Payfriendz, a London-based social payments app, has chosen UK-based payments provider Paysafe Group to enable the launch of its P2P social payments app and virtual MasterCard solution.
Paysafe, a principal MasterCard member, will offer Payfriendz a range of payment processing as well as card services.
The payments provider, which also has MasterCard Europe and Visa Europe licences, said that it will allow users of the Payfriendz social payments app to load and hold funds in their Payfriendz account, and spend online through a virtual MasterCard.
Paysafe Card Solutions and Acquiring CEO Andrea Dunlop said: “Our new partner Payfriendz is one of the most exciting new startups we have seen in the money transfer space. We are delighted that they chose Paysafe to provide acquiring, payment processing and card solutions using our full end-to-end service.”
Payfriendz allows users to send, request and receive money from friends and contacts, with users allowed to transfer the money to their UK bank account after collection of funds. Users can also make online purchases through a virtual MasterCard card that is linked to their Payfriendz account.