The collaboration is to offer best-in-class central infrastructure, payments localization, and access solutions to central banks, scheme operators, financial institutions, payment service providers, and other organizations launching real-time payment initiatives.
This will address the opportunity created as the “account-to-account payments market continues to quickly expand,” a press release said on Tuesday, September 29.
With a complimentary real-time payments vision, the combination of Mastercard’s central infrastructure and ACI’s payments access and real-time message transformation technology delivers an unmatched end-to-end offering.
“With more countries and regions embarking on the modernization of their payments systems to capitalize on real-time technologies and customer demand, the market opportunity is significant,” said Paul Stoddart, Mastercard President of New Payment Platforms.
“Working together with ACI, we will explore a wide range of opportunities to accelerate the development and usage of real-time and multi-channel payment platforms,” he added in the release.
“Mastercard and ACI share an extensive and complementary track record of real-time payment success,” said Craig Saks, ACI’s Chief Strategy and Transformation Officer. He added that the new partnership “will provide great benefit not only to banks and central infrastructures” but to merchants, their customers, and financial technology companies (FinTechs).