A new partnership between PEXA and Mastercard will explore how property ownership transfers and payments could be more closely synchronised. The aim is to reduce uncertainty around the completion of property transactions.
The collaboration will investigate the use of programmable account-to-account (A2A) payments. A proposed model would allow buyer funds to be securely reserved and then automatically released once agreed completion conditions are met.
The companies stated that this approach could address issues that arise when property data, legal checks, and payment flows are not aligned between the various parties involved in a transaction. The proposed model is expected to be tested through Mastercard’s A2A Sandbox.
This work builds on PEXA’s involvement in the Bank of England Synchronisation Lab, which focuses on synchronising the settlement of lender funds with the transfer of property title. Vocalink, a Mastercard-owned company involved in the UK’s A2A payments infrastructure, is supporting the initiative.