DeFi Daily News
Monday, June 2, 2025
Advertisement
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos
No Result
View All Result
DeFi Daily News
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos
No Result
View All Result
DeFi Daily News
No Result
View All Result
Home DeFi

Mastercard will provide real-time cross-border payment services for corporate customers

Julie Muhn (@julieschicktanz) by Julie Muhn (@julieschicktanz)
October 21, 2024
in DeFi
0 0
0
Mastercard will provide real-time cross-border payment services for corporate customers
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on Telegram
Listen to this article

Mastercard, one of the world’s leading payment solutions providers, has recently launched Move Commercial Payments, a cutting-edge real-time cross-border payments system that operates 24/7. This innovative tool is designed to revolutionize the way commercial users conduct cross-border transactions by leveraging a multi-rail system that incorporates established networks such as SWIFT, Visa Direct, and Mastercard’s proprietary platforms.

The introduction of Move Commercial Payments signifies a significant milestone in the evolution of global payment solutions, offering a range of features tailored to enhance efficiency and transparency in cross-border transactions. Among the key benefits of this new system are advanced liquidity management capabilities, seamless integration with existing SWIFT systems, and the mitigation of counterparty risks, thereby streamlining the payment process and reducing potential financial hazards.

Cross-border payments have become a cornerstone of modern business operations, especially in the context of a rapidly evolving global economy. Recent studies, such as a report by McKinsey, have highlighted the exponential growth of global payments revenue, underlining the importance of efficient and reliable cross-border payment solutions for businesses worldwide.

Mastercard Move Commercial Payments sets itself apart by offering more than just real-time transaction processing. The platform is equipped with a range of features designed to optimize banking operations, including diverse settlement options for improved liquidity management, a multi-party framework to address counterparty risks, integration capabilities with existing banking systems, and enhanced compatibility with correspondent banking relationships.

Alan Marquard, Head of Transfer Solutions at Mastercard, emphasized the transformative impact of Move Commercial Payments, stating, “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, empowering banks to generate new revenue streams while minimizing risk and enhancing their offering for corporate customers.”

The development and deployment of Move Commercial Payments were executed following a successful pilot program in the U.K. with leading financial institutions such as Lloyds Banking Group and UBS. This initial phase played a crucial role in refining the platform’s capabilities, ensuring its readiness for widespread implementation. The collaboration with key industry players demonstrated the efficiency and reliability of Mastercard’s multi-rail payment system, paving the way for broader adoption and market acceptance.

Mastercard’s foray into real-time cross-border payments comes in direct competition with Visa Direct, a similar payment solution offered by Visa. Visa Direct also utilizes a multi-rail approach to facilitate fast and secure money transfers across international endpoints, leveraging partnerships with major payment networks such as The Clearing House RTP and FedNow.

The launch of Move Commercial Payments aligns with a broader trend in the financial services industry, where firms are increasingly focusing on real-time payment solutions to meet the evolving needs of consumers and businesses. Recent developments in the payments sector, including Worldline’s account-to-account transfer tool in Europe, Tyfone’s instant payments solution, and Token.io’s partnership with Santander for real-time payments, underscore the growing importance of efficient and transparent payment infrastructures.

As the world of finance continues to embrace real-time payment solutions, innovations like Mastercard Move Commercial Payments are poised to reshape the landscape of cross-border transactions, offering unparalleled speed, security, and reliability to commercial users worldwide.

For more trending news articles on innovative payment solutions and financial technologies, visit DeFi Daily News.

Photo by Lea L on Unsplash


Views: 81

Related

In conclusion, the launch of Mastercard Move Commercial Payments marks a significant advancement in the realm of cross-border financial transactions, offering unparalleled speed, transparency, and security to commercial users. By leveraging a multi-rail system and collaborating with key industry players, Mastercard has positioned itself at the forefront of real-time payment solutions, poised to transform the way businesses conduct international transactions. As the global economy continues to evolve, innovative payment platforms like Move Commercial Payments will play a pivotal role in shaping the future of cross-border commerce, driving efficiency, reducing risks, and enhancing the overall banking experience for businesses worldwide.



Source link

Tags: CorporatecrossbordercustomersMastercardPaymentProvideRealTimeServices
ShareTweetShare
Previous Post

Testing TVs at ZDNET: Our Approach in 2024

Next Post

ISRAEL: “Hundreds of millions in gold” found in Hezbollah bunker

Next Post
ISRAEL: “Hundreds of millions in gold” found in Hezbollah bunker

ISRAEL: "Hundreds of millions in gold" found in Hezbollah bunker

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

No Result
View All Result
  • Trending
  • Comments
  • Latest
rewrite this title Haliey Welch Breaks Silence on Hawk Tuah Coin Collapse

rewrite this title Haliey Welch Breaks Silence on Hawk Tuah Coin Collapse

May 6, 2025
The Future of Blockchain: An Inside Look at Cardano

The Future of Blockchain: An Inside Look at Cardano

July 18, 2024
Boeing machinists refuse latest offer, prolonging bruising six-week strike

Boeing machinists refuse latest offer, prolonging bruising six-week strike

October 23, 2024
rewrite this title with good SEO Spar Supermarket In Switzerland Starts Accepting Bitcoin

rewrite this title with good SEO Spar Supermarket In Switzerland Starts Accepting Bitcoin

April 18, 2025
Moralis Web3: Enterprise-Grade Crypto PnL API for Tracking Wallet Profit & Loss

Moralis Web3: Enterprise-Grade Crypto PnL API for Tracking Wallet Profit & Loss

July 24, 2024
I Built The DREAM Office Setup!

I Built The DREAM Office Setup!

November 30, 2024
rewrite this title KeyBank Taps Personetics to Give Customers Insights into Spending – Finovate

rewrite this title KeyBank Taps Personetics to Give Customers Insights into Spending – Finovate

June 2, 2025
rewrite this title How to Move Across the Country Cheaply – NerdWallet

rewrite this title How to Move Across the Country Cheaply – NerdWallet

June 2, 2025
rewrite this title and make it good for SEOThe best balance transfer credit cards for 2025: Don’t pay any interest until 2026

rewrite this title and make it good for SEOThe best balance transfer credit cards for 2025: Don’t pay any interest until 2026

June 2, 2025
rewrite this title Sports betting stocks slide after Illinois lawmakers approve tax hike

rewrite this title Sports betting stocks slide after Illinois lawmakers approve tax hike

June 2, 2025
rewrite this title and make it good for SEO 7 Most Profitable Crypto Passive Income Tools: Earn Free BTC with Cloud Mining

rewrite this title and make it good for SEO 7 Most Profitable Crypto Passive Income Tools: Earn Free BTC with Cloud Mining

June 2, 2025
rewrite this title As Bitcoin Price Soars, How Global Crypto Investors Can Earn BTC as Passive Income with QFSCOIN Best Free Cloud Mining

rewrite this title As Bitcoin Price Soars, How Global Crypto Investors Can Earn BTC as Passive Income with QFSCOIN Best Free Cloud Mining

June 2, 2025
DeFi Daily

Stay updated with DeFi Daily, your trusted source for the latest news, insights, and analysis in finance and cryptocurrency. Explore breaking news, expert analysis, market data, and educational resources to navigate the world of decentralized finance.

  • About Us
  • Blogs
  • DeFi-IRA | Learn More.
  • Advertise with Us
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2024 Defi Daily.
Defi Daily is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos

Copyright © 2024 Defi Daily.
Defi Daily is not responsible for the content of external sites.