Xryma Plc's PaidBy® and Mastercard Boost Cross-Border Payments

Xryma Plc's payment platform, PaidBy®, has entered into a strategic partnership with Mastercard to enhance cross-border account-to-account (A2A) payments. This collaboration aims to globally advance open banking and establish a scalable cross-border A2A payment model, addressing current limitations in domestic-only open banking transactions.

Mastercard will contribute global connectivity and trust, essential for making these transactions viable for enterprises. PaidBy® will add its proprietary orchestration layer and settlement infrastructure, allowing merchants to accept payments in local currencies while settling in preferred currencies.

The partnership initially focuses on expanding PaidBy®'s A2A capabilities in Europe and the UK, with future plans for global integration. This marks a significant move towards a unified international payment system.