Mastercard and ACI Offer Technology to Drive Real-Time Payment Adoption | Source Payments

Mastercard and ACI Worldwide have partnered to provide technology that helps the central bank infrastructure meet the demands for real-time payments during the COVID-19 pandemic and beyond.

The association will offer a wide range of real-time payment solutions globally, initially focusing on core infrastructure, payment localization and access solutions to central banks, scheme operators, financial institutions, payment service providers and other organizations. that launch real-time payment initiatives.

“With more countries and regions embarking on modernizing their payment systems to capitalize on real-time technologies and customer demand, the market opportunity is significant,” said Paul Stoddart, president of new payment platforms at Mastercard, in a press release. “Working together with ACI, we will explore a wide range of opportunities to accelerate the development and use of multichannel and real-time payment platforms, driving choice and innovation for market participants and end customers.”

The companies say that those who get the service would benefit from Mastercard’s central card and account-to-account payment infrastructure and ACI’s access to Zelle P2P and The Clearing House Real-Time Payments rails, as well as messaging technology. in real time.

Services would range from fully managed cloud payments implementation to local software support for government, central bank and system operator platforms.

Technology from Mastercard and ACI would also reduce the amount of time to onboard customers and provide flexible adoption of real-time payments. It will expand digital capabilities and implement the ISO 20022 global messaging standard.

“Mastercard and ACI share a long and complementary history of success in real-time payments, driving the clearing and settlement schemes of the global core infrastructure,” said Craig Saks, director of strategy and transformation, ACI Worldwide, in the statement. the most robust and comprehensive set of real-time capabilities on the market today. “

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