Stockholm, June 11, 2020 – Mastercard and licensed e-money institution, EedenBull, have today announced an extension of their strategic partnership in the European Economic Area. Mastercard’s ongoing support will enable the continued growth of EedenBull’s operations in Oslo and Edinburgh, and its innovative spend management platform Q Business®
As part of the new agreement, Mastercard will support Eedenbull’s product development and innovation, including the digital enablement of it’s services.
Q Business® provides simplicity and control of all purchases employees make on behalf of their company with a solution that includes payment cards, a web-based management module, a mobile app, integration with accounting systems and digitization of receipts. Currently, 65 banks in Norway offer Q Business® to several thousand small and medium sized businesses.
“We are delighted to be entering this next phase of our relationship with EedenBull and support its ambitions to connect to the vast and growing opportunities in commercial payments across Europe,” said Erik Gutwasser, Divisional President Nordics & Baltics, Mastercard.
“With Mastercard’s paytech experience and global network of customers and partners, we will be able to help EedenBull leverage its unique expertise and service a largely untapped market segment.”
The extended partnership is a testament to Mastercard’s strategy of working with fintechs to drive innovation and inclusive growth across Europe. As the frontrunner in payment technologies, Mastercard is continuously developing new solutions catering to evolving demands driven by rapid digital transformation.
“At EedenBull we have a relentless focus on creating better ways for businesses to pay and get paid. Businesses everywhere are facing the same challenges and are seeking solutions that make their everyday lives simpler, more secure and more profitable,” said Nicki Bull Bisgaard, CEO of EedenBull.
“Selecting Mastercard as our preferred partner to support us in creating real value for our customers and partners and to support our expansion in Europe was easy as we share the same view on what businesses require and how we best meet those needs in an ever-changing world.”
About Mastercard (NYSE: MA), www.mastercard.com Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits 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.