#India #Bengaluru #Infosys #Mastercard #Finacle

Mastercard and Infosys Collaborate to Scale Cross-border Payments

In an exciting strategic partnership, Mastercard and Infosys have announced a new initiative aimed at enhancing cross-border payment solutions. This collaboration is expected to streamline the onboarding process for financial institutions and provide them with improved access to Mastercard Move, a comprehensive portfolio of money movement capabilities.

The Essence of the Collaboration

Infosys, a leader in next-generation digital services and consulting, highlighted that this collaboration will facilitate a seamless integration with Infosys Finacle, which is part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys. This integration will significantly reduce the time and resources traditionally required for implementation, thereby offering financial institutions easier access to world-class payment solutions.

Mastercard Move is designed to deliver fast and secure money transfer solutions for both domestic and international transactions, with coverage spanning more than 200 countries and over 150 currencies. It provides effective solutions for more than 95% of the world's banked population, making it a critical resource for banks and non-bank financial institutions alike.

Insights from Industry Leaders

Key industry figures have shared their thoughts on the impact of this strategic collaboration. Pratik Khowala, Executive Vice President and Global Head of Transfer Solutions at Mastercard, emphasized the transformative potential of Mastercard Move. He stated, "Through these cutting-edge solutions, we empower individuals and organizations to move money quickly and securely across borders. The collaboration with Infosys enhances our ability to deliver these capabilities to financial institutions, helping them facilitate reliable cross-border payments for their customers."

Anouska Ladds, Executive Vice President of Commercial New Payment Flows at Mastercard, shed light on the growing demand for remittances globally. "Global remittances are increasing, mainly due to factors such as migration and digitalization, particularly across Asia, which accounted for nearly half of global inflows in 2024," she noted. Mastercard is committed to expanding its smart money movement solutions to meet this rising demand and make these services more accessible.

Enhancing Customer Experiences

The urgency to improve digital payment systems is becoming more pronounced among financial institutions. Dennis Gada, Executive Vice President and Global Head of Banking and Financial Services at Infosys, remarked on the pivotal role payment systems play as primary touchpoints for customers. He pointed out that institutions offering fast, secure, and seamless transaction experiences are more likely to foster long-term loyalty among consumers.

Sajit Vijayakumar, Chief Executive Officer of Infosys Finacle, stressed the partnership's focus on improving financial experiences for consumers. "Our collaboration aims to facilitate near real-time, cross-border payments, thereby enhancing the financial experiences of everyday customers," he added.

About Mastercard and Infosys

Mastercard operates on a global scale, providing economic empowerment in over 200 countries and territories. It’s dedicated to building a resilient economy and enhancing the experience of every customer through various digital payment solutions.

On the other hand, Infosys excels in providing innovative digital services, helping organizations navigate their digital transformation journey. With over four decades of experience in global enterprise management, Infosys continues to drive transformation powered by NextGen technologies like cloud computing and artificial intelligence.

This collaboration signifies a pivotal moment for global payments, promising a more efficient, secure, and swift money movement experience for financial institutions and, ultimately, their customers. With the combined strengths of Mastercard and Infosys, the future of cross-border payments looks brighter than ever.