A new partnership between PEXA and Mastercard will explore how greater certainty could be provided for UK homebuyers on completion day, by testing account-to-account (A2A) payment innovation to support the property buying journey.
Completion day remains a complex point in the homebuying process. Property data, legal checks and payment flows need to align across multiple parties. When they do not, the result can be costly delays, uncertainty and, too often, property purchases falling through.
Mastercard and PEXA want to change that, using programmable A2A payments to securely reserve buyer funds and release them automatically only once agreed completion conditions are met.
This collaboration brings together PEXA’s digital property completion expertise with Mastercard’s payment orchestration capabilities to explore how money movement and property ownership transfer could be more closely synchronised. This work is underpinned by Vocalink, a Mastercard company, and its expertise operating the UK’s always-on A2A payments infrastructure.
The proposed model is expected to be tested through Mastercard’s A2A Sandbox, giving banks and partners a practical environment to explore programmable payment use cases. It builds on PEXA’s participation in the Bank of England Synchronisation Lab which is focused on the synchronised settlement of both lender funds and property title transfer.
Helena Forest, EVP, Global Product & Commercial, Real Time Payments at Mastercard, said:
“Buying a home should be an exciting milestone, not one overshadowed by uncertainty. By working with PEXA and using Mastercard’s A2A Sandbox to test new approaches, we’re exploring how account-to-account payment innovation can help make property transactions more predictable, efficient and consumer-focused.”
Krystle Kocik, UK Co-CEO at PEXA, said:
“PEXA was established to make property completion and registration more certain by securely connecting money movement with property ownership. Working with Mastercard and Vocalink allows us to explore how synchronised settlement and programmable payments could support consumers, lenders and conveyancers, while advancing our vision for a digitally connected property market where trusted data, digital completion and next-generation payment capabilities work together.”
Keith Douglas, CEO of Vocalink, added:
“This partnership with PEXA explores how A2A innovation can make property completions simpler, safer and more certain. This is exactly the sort of capabilities the UK National Payments Vision looks to unlock: better, more coordinated payment experiences that reduce friction, improve confidence and deliver real benefits for people and businesses.”
ENDS
About Mastercard
Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we’re building a sustainable economy where everyone can prosper. We support a wide range of digital payments choices, making transactions secure, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential.
About PEXA
Pioneered in Australia and listed on the Australian Securities Exchange, PEXA is an FCA-regulated payment services provider in the UK. It is the UK’s only FCA-regulated digital property completion infrastructure connecting the movement of money and lodgement of title in a single secure platform.
About Vocalink
Vocalink, a Mastercard company, is British-born with global reach, underpinning the UK’s always-on account-to-account payments infrastructure. We process more than 90% of UK salaries and state benefits, enabling bank-to-bank transactions that help millions of people and businesses pay and get paid securely and reliably.
For more information, please contact:
Mastercard/Vocalink: Natalja Donovan Natalja.Donovan@mastercard.com
PEXA: Julian Wells julian.wells@pexa.co.uk
