Paysafe Group, a global payments provider, this past week announced that it is working with Payfriendz, a U.K.-based person-to-person payments mobile app similar to Venmo, and providing a new suite of services such as a virtual prepaid MasterCard and transaction processing. 

Paysafe enables users of the Payfriendz social payments app to load and hold funds in their Payfriendz account and spend online using a virtual MasterCard.

"Our new partner Payfriendz is one of the most exciting new startups we have seen in the money transfer space," Andrea Dunlop, CEO of Paysafe card solutions and acquiring, said in a press release. "We are delighted that they chose Paysafe to provide acquiring, payment processing and card solutions using our full end-to-end service."

"Our vision is to make social payments fun," Volker Breuer, CEO of Payfriendz, said in a statement. "To deliver an outstanding app and payments experience for our users we need a world-class payments specialist to seamlessly integrate into our platform."