HONG KONG, Jan. 17, 2023 /PRNewswire/ — Global FinTech SUNRATE announces the successful integration of Mastercard Cross-Border Services into its intelligent global payment and treasury management platform, boosting SUNRATE’s global cross-border payment capabilities for its customers. The integration of Mastercard Cross-Border Services is the latest expansion of the continuing global partnership between the two companies. SUNRATE secured the Mastercard principal membership in 2020 which allowed the company direct access to Mastercard’s leading global payments network and resources.
Through a single, secure point of access, Mastercard Cross-Border Services allows businesses to send and receive money securely and with certainty. This means that SUNRATE customers are able to send money to five designated countries in Asia, including Thailand, Philippines, Malaysia, Vietnam and China.
“We have a vision for SUNRATE to be the go-to B2B payment and treasury management platform, especially for emerging markets. As such, the flexibility brought about by Mastercard Cross-Border Services, such as the capability to make cross- border payments to the most popular and emerging markets worldwide is something that our customers are very excited about. Our collaboration with Mastercard will allow our customers to focus on what is more important in their scaling journey, such as localisation efforts and potentially establishing new revenue streams for their businesses,” said Qincheng Wang, Head of Product, SUNRATE.
Helena Chen, Managing Director, Hong Kong and Macau, Mastercard, said, “Mastercard is pleased to further its collaboration with SUNRATE via its Cross Border Services solution, enriching SUNRATE’s remittance service in a faster, safer, more transparent and cost-effective way. Mastercard Cross Border Services reaches over 100 markets and 90 percent of the world’s population and this partnership will continue to expand in hopes of enhancing the cross-border service for businesses.”
SUNRATE is the intelligent global payment and treasury management platform for businesses worldwide. Since its inception in 2016, we are recognised as a leading solutions provider and have enabled companies in 130+ companies with our cutting-edge proprietary platform, extensive global network, and robust APIs to scale both local and global growth.
With its global headquarters in Singapore and offices in China, Indonesia, Japan and UK, SUNRATE partners with the top global financial institutions, such as Citibank, Standard Chartered, Barclays and is the principal member of both Mastercard and Visa. We are licensed and regulated by the Financial Conduct Authority of the UK, the Bank Indonesia, the Hong Kong Customs as a Money Service Operator, and the Monetary Authority of Singapore as a Major Payment Institution.
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For legal information of Mastercard’s Cross-Border Services, please refer to: https://b2b.mastercard.com/cross-border-services/legal/