Mastercard and Infosys Unite to Transform Cross-border Payments
A strategic partnership between Mastercard and Infosys aims to enhance financial institutions’ access to Mastercard Move, a robust suite of money movement capabilities. By simplifying the onboarding process, this collaboration will empower banks and non-bank financial institutions to offer expedited and secure cross-border payment solutions.
Enhancing Access to Financial Solutions
Infosys, a leader in digital services, has teamed up with Mastercard to leverage its advanced insights into digital transformations. With Mastercard Move, institutions can seamlessly integrate these effective payment solutions into their existing infrastructure. This innovative offering reduces the traditional time and resource demands associated with implementing new financial systems.
Rapid and Secure Money Transfers
Mastercard Move is designed to provide various financial entities, including banks and direct disbursers, with an efficient platform for secure money transfers across borders, benefiting both domestic and international markets. Its extensive reach spans over 200 countries, supporting more than 150 currencies and catering to an impressive 95% of the world's banked population.
Statements from Leadership
Pratik Khowala, EVP and Global Head of Transfer Solutions at Mastercard, emphasized the importance of this partnership, stating that it equips financial institutions with the necessary tools to facilitate quick and secure transactions. The collaboration with Infosys not only enhances customer experiences but allows institutions to maintain better control over their operations, ultimately driving down costs and managing liquidity more effectively.
Insights from Anouska Ladds
Anouska Ladds, Executive Vice President at Mastercard, highlighted the continuous growth in global remittances driven by factors like migration and digitalization. With nearly half of global inflows originating from Asia, Mastercard is dedicated to enhancing its solutions to cater to the diverse needs of this evolving landscape.
Dennis Gada on Digital Payment Priorities
According to Dennis Gada, EVP and Global Head of Banking and Financial Services at Infosys, advancements in digital payment systems are paramount for financial institutions. The frequency of these transactions establishes a vital connection with customers, emphasizing the need for swift, seamless experiences to foster loyalty and retention.
Combining Expertise for Better Banking Solutions
Sajit Vijayakumar, CEO of Infosys Finacle, remarked on the potential of their collaboration with Mastercard Move to deliver exceptional customer experiences in banking. By integrating Mastercard's world-class capabilities with Infosys's digital banking platform, they aim to empower financial institutions to excel in service delivery.
About Mastercard
Mastercard operates in over 200 countries, striving to empower individuals with efficient payment solutions. Their dedication to innovation fosters a resilient economy where everyone can thrive, thanks to secure and accessible transaction services.
About Infosys
Infosys stands as a front-runner in digital services and consulting, helping clients from 59 countries transition into modern digital ecosystems. With an extensive background of over four decades, Infosys focuses on enhancing business operations through technology powered by AI solutions.
About Infosys Finacle
Aktively shaping the digital banking landscape, Infosys Finacle supports institutions globally. With a focus on improving banking experiences, Finacle's comprehensive cloud-native solutions enable banks to meet evolving market demands and optimize customer engagement.
Frequently Asked Questions
What is the purpose of the Mastercard and Infosys collaboration?
The collaboration aims to streamline financial institutions' access to Mastercard Move, enhancing cross-border payment capabilities.
How does Mastercard Move enhance cross-border payments?
Mastercard Move provides a framework for fast and secure money transfers, simplifying integration and reducing implementation times and resources.
What do the leaders say about this partnership?
Leaders from both companies emphasize the importance of providing faster, more secure payment solutions to enhance customer experiences and institutional efficiency.
What markets does Mastercard Move operate in?
Mastercard Move operates in over 200 countries, supporting more than 150 currencies and reaching a significant part of the global banked population.
How does Infosys contribute to the partnership?
Infosys offers its digital transformation expertise and systems, enabling faster implementation of Mastercard's payment capabilities in financial institutions.
