Indian multinational tech company Infosys has announced a collaboration with Mastercard to expand access to Mastercard Move, the payments company’s portfolio of money movement services.
The partnership will integrate Mastercard Move with Infosys Finacle, the banking platform of EdgeVerve Systems, a subsidiary of Infosys.
This will allow financial institutions to connect with Mastercard’s cross-border capabilities in less time and with fewer resources than traditional integration projects.
Mastercard Move supports banks, non-bank financial institutions and direct disbursers in transferring funds securely across borders.
The service covers more than 200 countries, supports over 150 currencies and reaches more than 95 percent of the world’s banked population.
Pratik Khowala, EVP and Global Head of Transfer Solutions at Mastercard, said,
“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, EVP and Global Head of Banking and Financial Services at Infosys, added,
“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.”
The integration is expected to help banks respond to growing demand for digital payments and remittances, particularly in Asia, which accounts for nearly half of global inflows.
Featured image: Edited by Fintech News Singapore, , based on images by wayhomestudio and K illustrator Photo via Freepik
