MasterCard Launches Integrated Processing Service in Asia-Pacific
MasterCard has launched its MasterCard Integrated processing service in Asia-Pacific, the company said today. The payments processing platform “enables issuers and acquirers to launch secure payments programs to their customers with greater speed and convenience,” MasterCard said.
Through the service, MasterCard offers fully integrated processing services that support all payments brands. “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, MasterCard’s senior vice president, network, processing and security solutions for the Asia-Pacific region.
Sridhar added: “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.”
In last week’s earnings call with investors, MasterCard CEO Ajay Banga said: “There’s a lot of runway in seeing transactions and processing, because 85 percent of the world’s retail transactions are still cash. So yes, there’s a lot of runway, but there’s also a lot of runway in building ancillary services that are connected to the transaction,” according to a Seeking Alpha transcript. MasterCard’s processed transaction volume worldwide was up 14 percent, to 12.6 billion in the first quarter 2016.