RS2 Financial Services’ innovation arm Beyond by RS2 achieves principal issuing member status with Mastercard in Europe, allowing the company to introduce and oversee payment card programs directly for corporates, banks, retailers, and fintechs in the region.

Beyond by RS2 now offers BIN sponsorship for firms to launch card schemes and co-branded card solutions for various organizations, along with a range of card products in digital and physical forms compatible with Google Pay and Apple Pay.

With the addition of issuing capabilities, Beyond by RS2 provides comprehensive program management services, including branded card creation, customer service, fraud monitoring, and regulatory compliance, facilitating swift and secure service introduction throughout the EU and EEA.

RS2 Financial Services CEO Jens Mahlke highlights the achievement of Mastercard principal issuing status as a milestone for Beyond by RS2, enabling faster market introduction of innovative payment products under a regulated framework for clients.

Visa and Mastercard are reportedly nearing a settlement with merchants to reduce credit card interchange fees by an average of approximately 0.1% point over several years, along with relaxing rules requiring merchants to accept all cards from a network.

Read more at Yahoo Finance: Beyond by RS2 gains principal Mastercard issuing member status in Europe