We are proud to announce the public launch of Everest, an online platform for business payments and expense management, in partnership with Mastercard.
Our relationship with Mastercard dates back to February 2018 when we were selected to join the Mastercard Start Path Program, their global FinTech accelerator. We were the first company from Luxembourg ever invited to join this cohort of later-stage fintech and tech startups coming from all over the world. At that time our primary product was Snaprove™, a digital onboarding solution allowing financial institutions and fintechs to verify a customers identity and perform KYC checks via a fully automated digital process online. This is how we started our cooperation with one of the leaders in the global payments industry. In November 2018, SnapSwap was invited by Mastercard to start the process of becoming a principal partner of Mastercard network, an issuer of Mastercard cards. We joined the Mastercard network as a principal member in September 2019. As one of a few principal partners of Mastercard in Luxembourg, SnapSwap is able to develop highly innovative payment products via direct integration with one of the largest payment networks in the world for issuing cards and processing card payments. Our partnership today advances to the next level, as we are launching a new service called Everest. This ongoing cooperation with Mastercard is important on several fronts and represents a long-term commitment on both sides. Mastercard brings a wealth of knowledge and experience to the project as it has a deep understanding and expertise of the global payments industry and of consumer behaviors. We could also benefit from Mastercard technology to help us create a powerful platform helping businesses enhance their efficiency by saving time and achieving a higher degree of flexibility and control over payment flows.
“We’re really proud to partner with SnapSwap for the Everest project and pleased that they are the first fintech in the Benelux to launch a platform dedicated for SMEs.”, says Henri Dewaerheijd, Country Manager Mastercard Belux. “Our partnership with SnapSwap dates back to 2018 when the company joined our global FinTech accelerator called Mastercard StartPath, hence confirming our strategy of working together with fintech partners from their inception to help them scale and grow.” Our market-proven digital onboarding and KYC solution Snaprove™ allows an efficient and compliant process for registering Everest corporate customers online. The partnership with Mastercard regarding Snaprove™ is ongoing as the company offers the solution to its extensive global network of clients.
Please find more details in our joint with Mastercard press release here.