~ MasterCard’s Payment Transaction Services has launched MasterCard Integrated to power the back-end payment process for issuing and acquiring banks
As the world of commerce becomes increasingly connected, consumers are continually seeking faster, more seamless and secure commerce solutions. This is putting the payments ecosystem under greater pressure to develop and deploy innovative payment solutions at a faster rate than ever before. To meet this challenge, MasterCard announced the launch of MasterCard Integrated, the payments processing services platform that powers MasterCard Payment Transaction Services. The platform enables issuers and acquirers to launch secure payments programs to their customers with greater speed and convenience.
MasterCard will now offer fully-integrated hosted processing services, supporting all payment brands. This further expands the role of MasterCard during the payments process, extending beyond its traditional network-branded switching services. In addition to traditional issuers and acquirers, MasterCard now also enables governments to build and manage entire payments ecosystems as they look to create better, smarter payment options.
“We are excited to be able to offer fully-integrated processing services for all payment brands through MasterCard Integrated in Sri Lanka now. Being a market where issuers and acquirers truly appreciate the convenience and security offered by electronic payment solutions, I look forward to seeing our customers adopt this solution and expedite their time to market, offering ever more innovative, secure payment programs,” said Vikas Varma, Executive Director, South Asia, MasterCard.
“In today’s world of rapid technology and regulatory changes, those in the payments ecosystem need to be nimbler in order to keep up. In order to do so, our customers – issuing and acquiring banks, and governments – seek best-in-class technology platforms and services that are reliable and more secure so they can focus on growth and providing greater value to their consumers,” said Rama Sridhar, senior vice president, Network, Processing & Security Solutions, Asia/Pacific, MasterCard.
“The launch of MasterCard Integrated is our effort to help our customers bring payment products integrated with the digital innovations to consumers in a secure, efficient and speedy manner. Our payments processing platforms have been deployed in multiple MasterCard data centres around the world, and will provide truly seamless global connectivity that only MasterCard can,” Sridhar added.
As a fully end-to-end platform, MasterCard Integrated is a comprehensive suite of services and tools which enable:
• Greater Speed to Market
Customers can quickly and easily amend existing products and introduce new products and services to meet evolving consumer needs, capture new market segments, and attract new consumers.
• State-of-the-Art Security
Industry-leading tools help significantly reduce fraud and risk for greater peace of mind, providing consumers with a richer, more convenient, and safer experience—anywhere, on any device, across all payment methods.
• Continuous Innovation
To help customers drive competitive advantage and continued relevance, MasterCard focuses heavily on driving payment innovation, investing to ensure its systems and platforms are enabled to support latest technologies to help them do so.
• Greater Efficiencies
MasterCard Payment Transaction Services enables customers to tailor products, features, fees, and authentication rules in real-time to drive their brand forward by helping them reduce resources spent on IT, program management, and operational inefficiencies.
• Long Term Growth
Speed to market and innovative payment solutions will create significant opportunities to drive long term growth.
About MasterCard: MasterCard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardAP and @MasterCardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.