Mastercard has teamed up with Infosys to strengthen cross-border payments, announcing a strategic collaboration that integrates Mastercard Move into Infosys Finacle.
Mastercard Move, a portfolio of money movement solutions, already powers payments in over 200 countries, covering 150+ currencies and reaching 95% of the world’s banked population, it claims. The partnership aims to make it easier and faster for financial institutions to access these capabilities while reducing the complexity and resources traditionally required for integration.
The collaboration leverages Infosys Finacle, part of EdgeVerve Systems, a subsidiary of Infosys, to provide financial institutions with a more efficient way of onboarding Mastercard Move’s technology.
Pratik Khowala, Mastercard EVP and global head of transfer solutions, said, “Through Mastercard Move’s cutting-edge solutions, we empower individuals and organizations to move money quickly and securely across borders. The strategic collaboration with Infosys provides financial institutions with easy access to these capabilities, enabling them to facilitate fast, secure and reliable cross-border payments for their customers while enhancing control of risk, operations, costs and liquidity for themselves. Together with Infosys, we’re helping financial institutions deliver the seamless digital payments experiences today’s customers expect.”
Dennis Gada, Infosys EVP and global head of banking and financial services, said, “Financial institutions are prioritizing advancements in digital payment systems. The frequency of daily transactions makes it a primary touchpoint with customers — and the key to building long-term loyalty. Consumers gravitate toward institutions that offer fast, secure and seamless transaction experiences. Our collaboration with Mastercard to enable near real-time, cross-border payments is designed to significantly improve the financial experiences of everyday customers.”
Source: https://fintech.global/
