Jack Henry and Moov to Implement Mastercard Move to Enable Fast, Seamless Domestic Payments
Jack Henry (JKHY) has expanded its collaboration with Mastercard to integrate Mastercard Move into Jack Henry Rapid Transfers™, enabling near-real-time money movement capabilities. This cloud-native service will facilitate seamless domestic payments and account funding through the Mastercard network.
The integration will be initially available through the Banno Digital Platform™, Jack Henry's digital banking solution currently serving 1,000 banks and credit unions with 13.2 million end users. The service will allow customers to move money between accounts at different financial institutions without delays.
This enhancement builds upon Jack Henry's existing alliance with Moov and previous collaborations with Mastercard in open banking, fraud protection, and marketing capabilities. The service will be exclusively offered through financial institutions, aiming to modernize digital payments and enhance customer relationships.
Jack Henry (JKHY) ha ampliato la sua collaborazione con Mastercard per integrare Mastercard Move in Jack Henry Rapid Transfers™, consentendo movimenti di denaro quasi in tempo reale. Questo servizio nativo nel cloud faciliterà pagamenti domestici senza soluzione di continuità e finanziamenti di conto attraverso la rete Mastercard.
L'integrazione sarà inizialmente disponibile tramite la Banno Digital Platform™, la soluzione di banking digitale di Jack Henry che attualmente serve 1.000 banche e cooperative di credito con 13,2 milioni di utenti finali. Il servizio consentirà ai clienti di trasferire denaro tra conti di diverse istituzioni finanziarie senza ritardi.
Questo miglioramento si basa sull'alleanza esistente di Jack Henry con Moov e su precedenti collaborazioni con Mastercard in materia di open banking, protezione dalle frodi e capacità di marketing. Il servizio sarà offerto esclusivamente attraverso istituzioni finanziarie, con l'obiettivo di modernizzare i pagamenti digitali e migliorare le relazioni con i clienti.
Jack Henry (JKHY) ha ampliado su colaboración con Mastercard para integrar Mastercard Move en Jack Henry Rapid Transfers™, lo que permite capacidades de movimiento de dinero casi en tiempo real. Este servicio nativo en la nube facilitará pagos nacionales sin problemas y la financiación de cuentas a través de la red Mastercard.
La integración estará inicialmente disponible a través de la Banno Digital Platform™, la solución de banca digital de Jack Henry que actualmente atiende a 1,000 bancos y uniones de crédito con 13.2 millones de usuarios finales. El servicio permitirá a los clientes mover dinero entre cuentas en diferentes instituciones financieras sin retrasos.
Esta mejora se basa en la alianza existente de Jack Henry con Moov y en colaboraciones anteriores con Mastercard en banca abierta, protección contra fraudes y capacidades de marketing. El servicio se ofrecerá exclusivamente a través de instituciones financieras, con el objetivo de modernizar los pagos digitales y mejorar las relaciones con los clientes.
잭 헨리 (JKHY)는 마스터카드와의 협력을 확대하여 Jack Henry Rapid Transfers™에 마스터카드 무브를 통합하여 거의 실시간으로 자금을 이동할 수 있는 기능을 제공합니다. 이 클라우드 기반 서비스는 마스터카드 네트워크를 통해 원활한 국내 결제 및 계좌 자금 조달을 용이하게 합니다.
통합은 현재 1,000개의 은행과 신용 조합에 1,320만 명의 최종 사용자를 제공하는 잭 헨리의 디지털 뱅킹 솔루션인 Banno Digital Platform™을 통해 처음으로 제공될 것입니다. 이 서비스는 고객이 서로 다른 금융 기관 간에 계좌 간 자금을 지연 없이 이동할 수 있도록 합니다.
이 개선 사항은 잭 헨리의 Moov와의 기존 제휴 및 마스터카드와의 개방형 뱅킹, 사기 방지 및 마케팅 기능에 대한 이전 협력을 기반으로 합니다. 이 서비스는 금융 기관을 통해 독점적으로 제공되어 디지털 결제를 현대화하고 고객 관계를 강화하는 것을 목표로 합니다.
Jack Henry (JKHY) a élargi sa collaboration avec Mastercard pour intégrer Mastercard Move dans Jack Henry Rapid Transfers™, permettant des mouvements d'argent presque en temps réel. Ce service natif dans le cloud facilitera les paiements nationaux sans couture et le financement de comptes via le réseau Mastercard.
L'intégration sera initialement disponible via la Banno Digital Platform™, la solution de banque numérique de Jack Henry qui sert actuellement 1 000 banques et coopératives de crédit avec 13,2 millions d'utilisateurs finaux. Le service permettra aux clients de transférer de l'argent entre des comptes de différentes institutions financières sans délais.
Cette amélioration s'appuie sur l'alliance existante de Jack Henry avec Moov et sur des collaborations antérieures avec Mastercard en matière de banque ouverte, de protection contre la fraude et de capacités marketing. Le service sera proposé exclusivement par des institutions financières, visant à moderniser les paiements numériques et à améliorer les relations avec les clients.
Jack Henry (JKHY) hat seine Zusammenarbeit mit Mastercard erweitert, um Mastercard Move in Jack Henry Rapid Transfers™ zu integrieren, was nahezu in Echtzeit Geldtransfers ermöglicht. Dieser cloudbasierte Dienst wird nahtlose inländische Zahlungen und Kontofinanzierungen über das Mastercard-Netzwerk erleichtern.
Die Integration wird zunächst über die Banno Digital Platform™ verfügbar sein, die digitale Banklösung von Jack Henry, die derzeit 1.000 Banken und Kreditgenossenschaften mit 13,2 Millionen Endbenutzern bedient. Der Dienst ermöglicht es den Kunden, Geld ohne Verzögerungen zwischen Konten bei verschiedenen Finanzinstituten zu transferieren.
Diese Verbesserung baut auf der bestehenden Allianz von Jack Henry mit Moov und früheren Kooperationen mit Mastercard im Bereich Open Banking, Betrugsbekämpfung und Marketingfähigkeiten auf. Der Dienst wird ausschließlich über Finanzinstitute angeboten, mit dem Ziel, digitale Zahlungen zu modernisieren und die Kundenbeziehungen zu verbessern.
- Integration with Mastercard Move expands JKHY's payment capabilities
- Large existing user base of 13.2 million end users across 1,000 financial institutions
- Exclusive offering through financial institutions strengthens customer relationships
- None.
Insights
Jack Henry's extended collaboration with Mastercard represents a strategic enhancement of its payment infrastructure capabilities, integrating Mastercard Move into Jack Henry Rapid Transfers to enable near-real-time domestic payment processing.
The implementation creates a dual advantage for Jack Henry. First, it strengthens the company's competitive positioning in the increasingly important fast payments space without requiring the development of proprietary rails. Second, the integration leverages Jack Henry's substantial distribution network through the Banno Digital Platform, which already serves 1,000 financial institutions and 13.2 million end users.
This partnership addresses growing market demand for faster payment solutions while creating potential revenue opportunities through increased transaction volume. By enabling financial institutions to offer enhanced payment capabilities, Jack Henry strengthens its value proposition as a technology provider that helps banks and credit unions maintain their central position in the financial lives of consumers and businesses.
The integration complements Jack Henry's existing alliance with Moov and extends a longstanding relationship with Mastercard that already encompasses open banking, fraud protection, and marketing capabilities. This suggests a deliberate strategy of building an ecosystem of complementary partnerships rather than developing all capabilities in-house.
While the announcement doesn't detail specific financial terms or revenue models, the implementation will likely generate incremental revenue through subscription or transaction-based fees as financial institutions adopt and deploy these enhanced capabilities to their customers.
Collaboration enables banks and credit unions to better serve the payment needs of consumers and small businesses
Mastercard Move provides banks, non-bank financial institutions, direct disbursers and their customers with fast, secure money transfer solutions. The integration facilitates the seamless and secure delivery of funds with near-real time* availability directly to eligible cards, bank accounts, and wallets around the world. It is part of Jack Henry's previously announced alliance with Moov to enable banks and credit unions to offer robust and comprehensive digital payment services to consumers and small and medium-sized businesses.
The integration of Mastercard Move is an addition to Mastercard and Jack Henry's longstanding collaboration. The two companies leverage solutions in open banking, advanced fraud protection, and marketing capabilities to support customer growth.
"Integrating Mastercard Move into Jack Henry Rapid Transfers in an important step in our efforts to modernize digital payments," said Jack Henry President and CEO Greg Adelson. "We are committed to empower banks and credit unions with innovative technologies that enable them to serve at the center of their relationships with accountholders."
Offered only through financial institutions, Jack Henry Rapid Transfers will offer numerous benefits, including the ability to move money between accounts at different financial institutions without delays. The service will initially be accessible through the Banno Digital Platform™, Jack Henry's fast-growing digital banking solution that serves 1,000 banks and credit unions and 13.2 million end users.
"This next phase in our ongoing collaboration is designed to help Jack Henry's customers enable seamless and secure money movement," said Chiro Aikat, Co-President,
About Moov
Moov is a new kind of payment processor, built from scratch in the cloud to make payments easier for developers & businesses. With Moov, businesses accept, store, send, and spend money — all through one simple integration. Moov is driven by a give-first mindset and supports a thriving network of developers with open-source libraries and a growing community. Discover how Moov can transform your payment operations at moov.io.
About Jack Henry & Associates, Inc.®
Jack Henry™ (Nasdaq: JKHY) is a well-rounded financial technology company that strengthens connections between financial institutions and the people and businesses they serve. We are an S&P 500 company that prioritizes openness, collaboration, and user centricity – offering banks and credit unions a vibrant ecosystem of internally developed modern capabilities as well as the ability to integrate with leading fintechs. For more than 48 years, Jack Henry has provided technology solutions to enable clients to innovate faster, strategically differentiate, and successfully compete while serving the evolving needs of their accountholders. We empower approximately 7,500 clients with people-inspired innovation, personal service, and insight-driven solutions that help reduce the barriers to financial health. Additional information is available at www.jackhenry.com.
*Transaction approvals depend on the applicable payment network and receiving financial network. Actual funds availability depends on the receiving financial institution.
Statements made in this news release that are not historical facts are "forward-looking statements." Because forward-looking statements relate to the future, they are subject to inherent risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Such risks and uncertainties include, but are not limited to, those discussed in the Company's Securities and Exchange Commission filings, including the Company's most recent reports on Form 10-K and Form 10-Q, particularly under the heading "Risk Factors." Any forward-looking statement made in this news release speaks only as of the date of the news release, and the Company expressly disclaims any obligation to publicly update or revise any forward-looking statement, whether because of new information, future events or otherwise.
View original content to download multimedia:https://www.prnewswire.com/news-releases/jack-henry-and-moov-to-implement-mastercard-move-to-enable-fast-seamless-domestic-payments-302403334.html
SOURCE Jack Henry & Associates, Inc.
FAQ
What new payment capabilities will JKHY's Mastercard Move integration offer?
How many users does Jack Henry's Banno Digital Platform currently serve?
When will Jack Henry implement the Mastercard Move integration?
What benefits will JKHY's Rapid Transfers offer to financial institutions?
