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Mastercard and Infosys Collaborate to Scale Cross-border Payments

In a groundbreaking partnership, Mastercard and Infosys have announced a strategic collaboration aimed at transforming the landscape of cross-border payments for financial institutions. This innovative alliance is designed to streamline the onboarding process for banks and other financial entities, empowering them with enhanced access to Mastercard’s suite of money movement capabilities, known as Mastercard Move.

Enhanced Accessibility Through Strategic Integration

Infosys, recognized globally for its expertise in next-generation digital services, is set to leverage its Finacle banking solutions to seamlessly integrate Mastercard Move with existing financial systems. This collaboration is expected to significantly reduce the time and resources traditionally required for financial institutions to access and implement these vital payment capabilities. By minimizing integration hurdles, Mastercard and Infosys aim to create a more efficient pathway that allows banks to offer their customers faster and more reliable international payment options.

Pratik Khowala, Executive Vice President and Global Head of Transfer Solutions at Mastercard, emphasized the importance of this partnership, stating that Mastercard Move enables businesses and individuals to transfer money securely across borders. “By simplifying access to these services through our collaboration with Infosys, financial institutions can provide their customers with seamless, safe, and swift transaction experiences,” Khowala said. This initiative is particularly crucial as the demand for efficient cross-border transactions continues to rise globally.

Addressing Global Remittance Growth

The collaboration comes at a time when global remittances are witnessing unprecedented growth, largely fueled by technological advancements and increasing migration trends. Anouska Ladds, Mastercard’s Executive Vice President for Commercial New Payment Flows in Asia Pacific, noted that Asia alone accounted for almost half of the global remittance inflows in 2024. This strategic partnership seeks to enhance the scalability of remittance services through cutting-edge money movement solutions available within the Mastercard Move portfolio.

Ladds affirmed Mastercard’s commitment to broadening the reach of these services, innovating to increase accessibility for a diverse user base. “We aim to remove barriers and facilitate faster, more inclusive payment solutions that cater to evolving market needs,” she explained.

Prioritizing Digital Payment Advancements

Dennis Gada, EVP and Global Head of Banking and Financial Services at Infosys, highlighted the vital role of digital payments in today’s banking landscape. As customer transaction frequency rises, digital payment avenues are becoming essential touchpoints for financial institutions to build lasting relationships. “Consumers prefer banks that prioritize fast and secure transactions. Our partnership with Mastercard is set to enhance the overall financial experiences for everyday users,” Gada remarked.

By facilitating nearly real-time cross-border payments, Infosys and Mastercard are jointly reshaping the financial services sector, creating solutions that resonate with modern consumer expectations.

Commitment to Innovation and Better Banking

Sajit Vijayakumar, CEO of Infosys Finacle, reiterated the shared vision of inspiring better banking services. The collaboration integrates Infosys’ composable banking platform with Mastercard’s extensive global money movement capabilities. This fusion aims to equip banks in delivering swift and secure cross-border payment solutions, catering to the diverse needs of various customer segments.

As both companies move forward, their commitment to not only enhance transaction speed but also to ensure security and reliability remains paramount. Banken globally are increasingly turning to such collaborations as they embark on their digital transformation journeys, navigating challenges posed by technological disruptions.

With a combined legacy of operational excellence and technological prowess, Mastercard and Infosys are poised to redefine the future of financial transactions, ensuring that their clients thrive in an increasingly interconnected global economy.

About Mastercard

Mastercard operates in over 200 countries and territories, empowering individuals and businesses alike through secure digital payment solutions. Their extensive suite of products is designed to facilitate seamless transactions that promote economic growth and global prosperity.

About Infosys

Infosys stands as a leader in the field of digital consulting and services, helping clients navigate their digital transformation journeys with impactful insights and innovative solutions. Through this collaboration, Infosys aims to enhance financial systems, ensuring that organizations can adapt and thrive in the competitive landscape of digital finance.

In conclusion, the collaboration between Mastercard and Infosys is not just about technology—it’s about creating a more accessible, efficient, and customer-friendly financial ecosystem that addresses the demands of a rapidly changing world.