France-based Treezor , a subsidiary of Societe Generale group and Banking-as-a-Service provider, and Mastercard have announced an extended partnership, according to an official press release. This agreement reinforces a 5-year partnership and reportedly confirms Societe Generale’s and Mastercard’s determination to support the rapid growth of this European BaaS company.

As a licenced Mastercard issuer, Treezor has onboarded new disruptive fintechs and both Mastercard and Treezor have accompanied the development of reportedly successful new players including Swile, Lydia, Qonto, Shine, and Pixpay, the official press release states. As part of the agreement, Mastercard has made a minority investment in Treezor which will help provide additional support through improved services, communication means, multi-rail payment infrastructure, and sales support from Mastercard’s local teams to improve Treezor’s success with fintechs and corporates across Europe, the press release continues. Reportedly, Mastercard’s technology, expertise, local teams, and support programmes for fintechs will accelerate Treezor’s European development across Benelux, Germany, Italy, and Spain.

As Mastercard’s preferred BaaS partner, Treezor will have priority access to new Mastercard products such as credit services, Open Banking, and the carbon calculator as well as a fully digital experience card programme ‘Mastercard Digital First’. According to the Country Manager of Mastercard France, since Treezor inception, Mastercard has supported the BaaS player in the development of its product range and in its international expansion. Mastercard has also accelerated Treezor’s neobanks onboarding via the Fintech Express programme, which Treezor has joined since July 2020.

According to the press release, Mastercard has been a factor in accelerating the European expansion of Treezor, which is regulated by the ACPR (French Prudential Supervisory Authority) as an Electronic Money Institution authorised to operate in 25 countries. Societe Generale group acquired Treezor in 2019 and has since reportedly provided it with the expertise of a major international banking group, which also satisfies the company’s financial needs and shareholder stability that it needs to develop. Treezor also leverages the group to implement new payment services via API (instant payment, insurance, credit services, among others) for regulated institutions and large accounts.

More about Treezor With the support of its two industrial partners, Societe Generale group on the banking side and Mastercard on the international payment scheme side, Treezor reportedly aims to build Europe’s payment pure player. According to the press release, in a rapidly changing payment environment, Treezor wants to step forward as a key player in embedded finance. Its modular one-stop shop approach, which is reportedly scalable and available via APIs, allows its customers to benefit from customised packages designed to meet the desired use cases and services.

Treezor has been featured in the recently launched Open Banking Report 2022. To find out more about the company we encourage you to download the report and visit its profile in our online company database. .