Mastercard IncAcquired's multi-rail stack includes card processing through Mastercard, giving Mastercard incremental payment volume via HES FinTech's UK lender clients.
HES FinTech and Acquired have expanded their partnership to give lenders running on HES LoanBox and HES CollectionAgent in the UK access to multiple payment rails through a single integration. The stack covers card processing through Visa, Mastercard, Apple Pay and Google Pay, BACs-authorised API-powered direct debit with mandate management, open banking collections, Variable Recurring Payments, and instant payouts across Faster Payments, Visa Direct and Mastercard Send with Confirmation of Payee and settlement accounts built in. Andre Kravchenko, Senior Vice President at HES FinTech, said the UK is one of its core markets and that extending the work with Acquired lets clients offer borrowers the payment methods that suit them within the same workflows they already use. AJ Davison, Head of Partnerships at Acquired, said a borrower usually falls into arrears not because they cannot pay but because the way they would naturally pay is not on offer, and that building multiple rails into LoanBox lets HES FinTech's clients put the right method in front of each borrower. HES FinTech, founded in 2012, provides automated loan management software for banks and financial institutions, while Acquired, founded in 2016, provides UK payments infrastructure for recurring commerce.
Mastercard IncAcquired's multi-rail stack includes card processing through Mastercard, giving Mastercard incremental payment volume via HES FinTech's UK lender clients.
Visa Inc. Class AThe expanded partnership routes card processing through Visa (plus Visa Direct payouts), adding Visa transaction volume from HES LoanBox lenders.
Acquired expands its partnership with HES FinTech to supply UK payments infrastructure across multiple rails to HES's lender clients.
HES FinTech expands its LoanBox/CollectionAgent offering with multi-rail payments, letting its UK lender clients offer borrowers more payment methods.