Mastercard Transforms Cross-Border Payments for Banks With Industry-First Innovation
Mastercard has unveiled Mastercard Move Commercial Payments, a groundbreaking solution for near real-time commercial cross-border payments. Announced at the Sibos conference in Beijing, this innovation aims to transform how banks handle international transactions, addressing key challenges in the rapidly growing cross-border payment market.
Key features include:
- 24/7/365 near real-time payments
- Flexible settlement options for improved liquidity management
- Reduced counterparty risk with multilateral arrangements
- Compatibility with existing Swift infrastructure and correspondent banking systems
- Value-added services like risk control and fraud analytics
A pilot program in the UK, involving Lloyds Banking Group and UBS with Fnality as the settlement venue, is already underway. This solution is part of Mastercard's broader Move portfolio, designed to facilitate swift and secure fund transfers both domestically and internationally.
Mastercard ha svelato Mastercard Move Commercial Payments, una soluzione innovativa per i pagamenti commerciali transfrontalieri quasi in tempo reale. Annunciata durante la conferenza Sibos a Pechino, questa innovazione mira a trasformare il modo in cui le banche gestiscono le transazioni internazionali, affrontando le sfide chiave nel rapidamente crescente mercato dei pagamenti transfrontalieri.
Le caratteristiche principali includono:
- Pagamenti quasi in tempo reale 24 ore su 24, 7 giorni su 7, 365 giorni all'anno
- Opzioni di regolamento flessibili per una migliore gestione della liquidità
- Riduzione del rischio di controparte con accordi multilaterali
- Compatibilità con l'infrastruttura Swift esistente e i sistemi di corrispondenza bancaria
- Servizi a valore aggiunto come controllo del rischio e analisi delle frodi
Un programma pilota nel Regno Unito, che coinvolge Lloyds Banking Group e UBS con Fnality come luogo di regolamento, è già in corso. Questa soluzione fa parte del portafoglio Move più ampio di Mastercard, progettato per facilitare trasferimenti di fondi rapidi e sicuri sia a livello nazionale che internazionale.
Mastercard ha revelado Mastercard Move Commercial Payments, una solución innovadora para los pagos comerciales transfronterizos casi en tiempo real. Anunciada en la conferencia Sibos en Pekín, esta innovación tiene como objetivo transformar la manera en que los bancos manejan las transacciones internacionales, abordando los desafíos clave en el creciente mercado de pagos transfronterizos.
Las características principales incluyen:
- Pagos casi en tiempo real 24/7/365
- Opciones de liquidación flexibles para mejorar la gestión de la liquidez
- Reducción del riesgo de contraparte con acuerdos multilaterales
- Compatibilidad con la infraestructura Swift existente y sistemas de banca corresponsal
- Servicios de valor añadido como control de riesgos y análisis de fraudes
Un programa piloto en el Reino Unido, que involucra a Lloyds Banking Group y UBS con Fnality como lugar de liquidación, ya está en marcha. Esta solución forma parte de la cartera más amplia de Move de Mastercard, diseñada para facilitar transferencias de fondos rápidas y seguras tanto a nivel nacional como internacional.
마스터카드는 마스터카드 무브 상업 결제를 발표했습니다. 이는 거의 실시간 상업적 국제 송금을 위한 혁신적인 솔루션입니다. 베이징에서 열린 시보스 회의에서 발표된 이 혁신은 은행들이 국제 거래를 처리하는 방식을 변화시키고, 빠르게 성장하는 국제 송금 시장에서의 주요 과제를 해결하는 것을 목표로 합니다.
주요 특징은 다음과 같습니다:
- 24시간 연중무휴 거의 실시간 결제
- 유동성 관리를 개선하기 위한 유연한 정산 옵션
- 다자간 계약을 통한 상대방 리스크 감소
- 기존 Swift 인프라 및 코레스폰던트 뱅킹 시스템과의 호환성
- 위험 관리 및 사기 분석과 같은 부가 가치 서비스
영국에서 진행 중인 시험 프로그램에는 로이드은행그룹과 UBS가 포함되며, Fnality가 정산 장소로 참여하고 있습니다. 이 솔루션은 마스터카드의 더 넓은 무브 포트폴리오의 일환으로, 국내 및 국제적으로 신속하고 안전한 자금 이체를 촉진하도록 설계되었습니다.
Mastercard a dévoilé Mastercard Move Commercial Payments, une solution révolutionnaire pour les paiements commerciaux transfrontaliers presque en temps réel. Annoncée lors de la conférence Sibos à Pékin, cette innovation vise à transformer la façon dont les banques gèrent les transactions internationales, en abordant les défis clés du marché en pleine croissance des paiements transfrontaliers.
Les principales caractéristiques comprennent:
- Paiements presque en temps réel 24/7/365
- Options de règlement flexibles pour améliorer la gestion de la liquidité
- Réduction du risque de contrepartie grâce à des arrangements multilatéraux
- Compatibilité avec l'infrastructure Swift existante et les systèmes de banque correspondants
- Services à valeur ajoutée tels que le contrôle des risques et l'analyse des fraudes
Un programme pilote au Royaume-Uni, impliquant Lloyds Banking Group et UBS avec Fnality comme lieu de règlement, est déjà en cours. Cette solution fait partie du portefeuille Move plus large de Mastercard, conçu pour faciliter des transferts de fonds rapides et sécurisés tant sur le plan national qu'international.
Mastercard hat Mastercard Move Commercial Payments vorgestellt, eine bahnbrechende Lösung für nahezu Echtzeitzahlungen im internationalen Handel. Angekündigt auf der Sibos-Konferenz in Peking, zielt diese Innovation darauf ab, die Art und Weise, wie Banken internationale Transaktionen abwickeln, zu transformieren und zentrale Herausforderungen im schnell wachsenden Markt für grenzüberschreitende Zahlungen anzugehen.
Zu den Hauptmerkmalen gehören:
- Nahezu Echtzeitzahlungen rund um die Uhr, 365 Tage im Jahr
- Flexible Abrechnungsoptionen zur Verbesserung des Liquiditätsmanagements
- Reduziertes Kontrahentenrisiko durch multilaterale Vereinbarungen
- Kompatibilität mit bestehender Swift-Infrastruktur und Korrespondenzbanken
- Wertschöpfende Dienste wie Risikokontrolle und Betrugsanalytik
Ein Pilotprogramm im Vereinigten Königreich, das die Lloyds Banking Group und UBS mit Fnality als Abrechnungsstelle einbezieht, ist bereits im Gange. Diese Lösung ist Teil des umfangreicheren Move-Portfolios von Mastercard, das entwickelt wurde, um schnelle und sichere Geldtransfers sowohl im Inland als auch international zu erleichtern.
- Introduction of near real-time commercial cross-border payment solution
- Potential for banks to generate new revenue streams
- Reduced counterparty risk and improved transaction visibility
- Compatibility with existing banking infrastructure
- Pilot program already in progress with major banks
- None.
Insights
Mastercard's introduction of Move Commercial Payments represents a significant innovation in the cross-border payments space. This solution addresses key pain points in the industry, including slow transaction speeds, lack of transparency and liquidity management issues. By offering near real-time payments 24/7/365, Mastercard is positioning itself to capture a larger share of the rapidly growing cross-border payments market, which has been expanding at double-digit rates.
The new product's features, such as flexible settlement options and reduced counterparty risk, are likely to be attractive to banks and their corporate clients. This could lead to increased transaction volumes and revenue growth for Mastercard. Moreover, by leveraging existing Swift infrastructure, Mastercard is lowering the barrier to adoption for banks, which could accelerate the product's market penetration.
The pilot with Lloyds Banking Group and UBS demonstrates Mastercard's ability to partner with major financial institutions, potentially leading to wider adoption and network effects. This innovation could strengthen Mastercard's competitive position against rivals like Visa and emerging fintech players in the lucrative B2B payments market.
The launch of Mastercard Move Commercial Payments aligns with the growing demand for efficient cross-border payment solutions in an increasingly globalized business environment. With cross-border payments growing at double-digit rates, Mastercard is tapping into a high-growth market segment.
This product addresses several key market needs:
- Speed and availability (near real-time, 24/7/365)
- Transparency in pricing and transaction status
- Reduced counterparty risk
- Flexibility in settlement options
These features are likely to resonate strongly with both banks and their corporate clients, potentially driving rapid adoption and market share gains for Mastercard. The compatibility with existing banking infrastructure and the ability to add new corridors and currencies with minimal cost could lead to scalable growth and network expansion.
The pilot with established banks like Lloyds and UBS serves as a strong market validation, which could accelerate adoption among other financial institutions. This innovation positions Mastercard to capitalize on the ongoing digital transformation in corporate finance and international trade.
Introducing Mastercard Move Commercial Payments to power near real-time commercial cross-border payments 24 hours a day, 365 days a year
Cross-border payments have been growing at double-digit rates, according to data from McKinsey, as businesses expand their supply chains and operations internationally. Despite this, banks still grapple with several pain points which are passed on to their business customers in the shape of slow and unpredictable cross-border payments that lack pricing transparency. Mastercard Move Commercial Payments aims to address existing challenges and capitalize on opportunities in commercial cross-border payments in an innovative way.
Key features include:
- Near real-time payments, 24 hours a day, 365 days a year to help banks transform corporate trade payments and intra- and inter-company treasury flows where working capital efficiency is crucial.
- Settlement options to give banks more flexibility to optimize liquidity efficiencies, with no impact on FX and deposit-related bank revenue.
- Multilateral arrangement embedded to reduce counterparty risk and provide outcome certainty on end-to-end transaction clearing in near real-time.
- Leverages banks’ existing investments in Swift messaging infrastructure, with a single technical connection that allows corridors and currencies to be added with minimal cost and resources.
- Fully compatible with existing correspondent banking arrangements between respondents and correspondents. Large clearing banks can extend the service to their institutional customers with minimal changes to their current processes.
- Value-added services tailored for a bank’s unique needs, including innovative risk control services and fraud analytics.
Alan Marquard, Head of Transfer Solutions at Mastercard, shares: “By powering fast, predictable and transparent payments, Mastercard Move Commercial Payments will bring what is already the norm in domestic payments to the commercial cross-border payment space.
“Our latest product innovation aims to directly address the pain points that are currently affecting the commercial cross-border payments market. By shifting to this new model, they will be empowered to generate new revenue streams while reducing risk and enhancing the offering for their corporate customers.”
In a pilot in the
Mastercard Move Commercial Payments is part of the Mastercard Move portfolio of money transfer capabilities that enables people and businesses to move funds quickly and securely, both domestically and internationally.
About Mastercard (NYSE: MA) www.mastercard.com
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.
About Mastercard Move
Mastercard Move is Mastercard’s portfolio of money movement capabilities powering a variety of payment experiences — from personal payments to disbursements to business payments. Mastercard Move reaches nearly 10 billion endpoints and gives access to an estimated 4.8 billion people, and more than
View source version on businesswire.com: https://www.businesswire.com/news/home/20241020515579/en/
Giang Nguyen, Global Communications
Giang.Nguyen@mastercard.com
Source: Mastercard Investor Relations
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