Bermuda, December 6th, 2023 — Mastercard, the global technology company in the payments industry, and First Atlantic Commerce (FAC), a leading online payment gateway and fraud management solutions provider, have signed a Memorandum of Understanding (MoU) to advance financial inclusion and safe digital payments across Central America and the Caribbean.
The collaboration aims to take advantage of Mastercard’s network, expertise, and technology, and FAC’s payment processing and risk management solutions to create a simple, safe, intuitive, and frictionless payment experience for all users.
“Partnering with one of the industry’s most innovative technology companies opens up incredible opportunities to drive the Caribbean and Central America’s digital economy and realize the region’s bright future in digital transformation,” said Christopher Burns, CEO of First Atlantic Commerce. “We are inspired by the possibilities of this partnership and excited to work with Mastercard to advance financial inclusion across our markets.”
Furthermore, the partnership will promote the implementation of innovative digital acceptance solutions such as Tap on Phone and Click to Pay, enabling businesses and their customers to make and receive payments in a faster and more secure way. Similarly, they will foster the launch and usage of Mastercard tokenization services, which protect each transaction, improve customer experience, and strengthen the users’ confidence in digital payment methods.
Mayra Vivacqua, Cluster Lead for Mastercard Caribbean, said, “We are thrilled to partner with FAC to drive the region’s digital transformation and offer our customers across various sectors, including SMEs, government, and commercial enterprises, a safer, easier, and more convenient way of making transactions. Our goal is to bring about an inclusive and innovative digital economy that works for everyone, everywhere.”
Germán Roson, Cluster Lead for Central America and the Dominican Republic at Mastercard, added, “We at Mastercard share a common goal with FAC – to empower unbanked and underserved populations through innovative technological solutions. By connecting them to the digital economy, we aim to provide them with opportunities to improve their living standards and reach their fullest potential.”
Headquartered in Bermuda and founded in 1998, First Atlantic Commerce (FAC) is a leading provider of secure and robust Internet payment solutions for merchants and acquiring banks in Central America and the Caribbean. Its solutions include multi-currency, real-time credit card and debit card processing, as well as online consumer authentication and other fraud management services.
About First Atlantic Commerce
First Atlantic Commerce (FAC) is a leading online payment solutions provider that specializes in the Caribbean and Central America. FAC is headquartered in Bermuda and was established in 1998 to create secure card-based payment solutions for online businesses. FAC provides merchants with multi-currency, credit and debit card payment solutions, tokenization services and PCI validated Point to Point Encryption solutions. As well, FAC provides merchants and banks with fraud management services including AVS-only, CVV, 3-D Secure 2 and Kount’s fraud control system, in multiple jurisdictions across the Latin American Caribbean Region.
About Mastercard (NYSE: MA)
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that helps everyone, everywhere by making transactions safe, simple, smart, and accessible. Using secure data and networks, partnerships, and passion, our innovations and solutions help individuals, financial institutions, governments, and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.