Mastercard Partners with VoPay for Canadian Payout Solution

Mastercard and Canadian fintech VoPay announced a strategic partnership to develop a joint payout solution leveraging Mastercard Move, aimed at enabling Canadians to move money quickly and securely. VoPay, a leading Canadian fintech specializing in payment infrastructure, contributes its technology platform while Mastercard brings its global payments network and Move capabilities. The partnership is designed to empower businesses and consumers in Canada with faster and more secure payout options.

The joint solution is planned for launch in 2024, though no specific go-live date has been confirmed. Financial terms of the partnership were not disclosed. This collaboration reflects the broader trend of card networks partnering with fintechs to embed payment capabilities into various platforms.

The deal strengthens Mastercard's embedded finance positioning in the Canadian market and gives VoPay access to Mastercard's extensive network and brand.