Latest news with #myTU
Finextra
15-07-2025
- Business
- Finextra
Neobank myTU enables Visa Direct and Mastercard Cross-Border Services
myTU, an AI-native, cloud-first digital bank, today announced the successful onboarding of Visa Direct and Mastercard Cross-Border Services into its payments infrastructure. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. This integration empowers businesses and individuals to send real-time payouts, including salaries, insurance claims, refunds, and gig-economy payments to eligible Mastercard and Visa cardholders, as well as directly to bank accounts in supported markets. The launch strengthens myTU's position as a leading provider of fast, reliable cross-border payment solutions. Global cross-border payments are expanding at an estimated 5% annually, with business-to-consumer (B2C) segments such as payroll and contractor payouts projected to grow at an even faster pace of 11.1% CAGR through 2032. With both Visa Direct and Mastercard Cross-Border Services integrated into its platform, myTU is to enable international transfers of up to €20,000, supporting outgoing card and account-based transactions. Transfers are available 24/7, with many delivered within 30 minutes. Combined, Visa Direct and Mastercard Cross-Border Services reach over 190 countries and support 160+ currencies. The services also support seamless currency exchange, which significantly reduces the friction of international transactions. The addition of these capabilities expands myTU's payments-as-a-service offering, allowing it to serve a diverse client base that includes consumer credit firms, marketplaces, and other payment service providers. Raman Korneu, Co Founder and CEO at myTU,said: 'This launch aligns with our strategy to empower partners with scalable global payout solutions and further solidifies our role as a next-gen payments infrastructure provider. As an AI-native business, myTU delivers long-term operational stability. Our automated systems mean integrations don't require frequent updates. And with a lean team structure, we're able to offer some of the most competitive pricing in the market.' On the security front, Visa Direct and Mastercard Cross-Border Services incorporate industry-leading fraud prevention tools, tokenization, and predictive analytics. Their real-time risk assessment systems help reduce fraud, enhance compliance, and ensure funds are delivered securely and reliably. With this launch, myTU continues its evolution into a full-stack global financial infrastructure provider, combining speed, scale, and security in a single, seamless platform.
Finextra
07-05-2025
- Business
- Finextra
MyTU secures Visa and Mastercard acquiring licences
myTU, a fully automated, AI-native and cloud-first digital bank, has been granted acquiring licenses from both Visa and Mastercard, furthering its mission to build a scalable, secure, and innovative payments-as-a-service infrastructure for partnering businesses. 0 This milestone will enable myTU to process card payments directly through its own acquiring infrastructure, across e-commerce platforms, retail stores, and POS terminals. Securing acquiring licensing from both main global payments providers marks a pivotal step in myTU's strategic growth and unlocks the ability to offer card acquiring services directly to its business clients. myTU's partnering businesses will be able to accept Mastercard and Visa payments both online and offline to streamline their transaction processes and operational flexibility. This is especially valuable for e-commerce and online retail, cross-border or international businesses, and high-volume retail. Being a principal member of Visa since 2023, myTU has now secured a new principal membership with Mastercard affirming its strong compliance and due diligence standards. It reinforces myTU's position among leading global financial institutions while preserving the speed, flexibility, and innovation of a next-gen fintech. Raman Korneu, Co-Founder and CEO of myTU: 'Becoming a direct acquiring partner of both Mastercard and Visa allows us to offer faster, more secure, and cost-effective payment services to our business clients. This is a key part of our strategy to evolve as a payments-as-a-service infrastructure provider for our business partners and empower their growth with the tools they need to manage and scale their payment operations efficiently.' myTU has already signed agreements with processing centers, gateway providers, and key partners in preparation for the integration phase. With all agreements approved by regulatory bodies, the groundwork for a seamless rollout is firmly in place. The service is expected to launch in Q3 2025. Through these advancements, myTU continues to challenge traditional banking models in delivering high-speed, secure, and AI-powered financial services that meet the evolving needs of today's businesses.
