Mastercard & Elavon: Partnership to take digital payments to bank apps

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Mastercard & Elavon: Partnership to take digital payments to bank apps

  • Elavon offer ‘Pay by Bank app’ to merchants in the UK allows people to use banking app to pay for goods and services
  • This feature is part of wider strategy to invest in new technology and extend capabilities
  • Pay by Bank app created by Vocalink, a Mastercard company and Elavon help merchants integrate it into their checkout pages
  • Mastercard allow it to diversify its business beyond its card network
  • Mastercard’s pilot trial saw consumers adopting Pay by Bank app at scale over a third of a million on-boarded users