By Sabela Ojea

Royal Bank of Scotland Group PLC (RBS.LN) said Thursday that it is investing in a global payment system business with Mastercard Inc. (MA), Motive Partners and EFM Asset Management.

The majority-state-owned bank said that Pollinate will work with banks around the world to deploy its platform that provides merchants with payments, business management and marketing connectivity with their customers.

RBS said Pollinate has already been working with NatWest to develop the Tyl platform which was launched in May for small and medium enterprises. Pollinate is also in advanced talks with other retail banks.

"Partnering with such high-quality companies, each of us bringing unique expertise and skills, allows for a truly international offering, benefiting not only our customers but the wider merchant acquiring space," Deputy Chief Executive of NatWest Holdings and CEO of Commercial & Private Banking at RBS Alison Rose said.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

October 31, 2019 06:57 ET (10:57 GMT)

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