We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Mastercard (MA) to Streamline Payment Platform in Peru Via ACI
Read MoreHide Full Article
Mastercard (MA - Free Report) and ACI to provide real-time payments in Peru via CCE.
Mastercard (MA - Free Report) to Streamline Payment Platform in Peru Via ACI
Mastercard Inc. (MA - Free Report) and ACI Worldwide came together to provide real time payment services in Peru. Cámara de Compensación Electrónica (CCE) will utilize the ACI Enterprise Payments Platform to accelerate all Peru-based financial institutions’ access to Mastercard’s Instant Payment Service. It is the new real-time payments managed service that will enter Industry Testing in Peru later this year.
ACI will combine its payments access and real-time message transformation technology with Mastercard’s Immediate Payments Service. This central infrastructure is being deployed as a managed service using the ISO 20022 message standard to deliver an unmatched end-to-end offering for CCE. Notably, CCE’s IIT service operates 24/7; its transfers can be performed using internet or mobile banking and are processed in real time.
This real-time service is the need of the hour for CCE in Peru given that the volume of immediate transfers processed by the institution each month has more than quadrupled. In January 2020, it processed 580,000, a number that increased to more than 2.8 million per month by January 2021.
The latest pact is the follow-up of the September 2020 agreement between ACI Worldwide (ACIW) and Mastercard, which aimed at providing a wide range of real-time payment solutions globally.
Both companies collaborated to offer the 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 payments initiatives.
The strategic move by Mastercard reflects its intent to make it big in the real-time account-to-account payments market, which is evolving rapidly. Prime Time for Real-Time, a recent study that analyzes global real-time, account-to-account payment volumes and forecasts across 30 global markets, projects a Compound Annual Growth Rate (CAGR) of 23.4% from 2019 to 2024 for the payments market.
According to Mastercard, 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.
The payments market in Peru provides Mastercard and ACI with a good business avenue considering that Latin America is at the forefront of payments upgrade. In fact, Peru along with other many countries in the region is already looking to adopt real-time payments based on ISO 20022. Thus the build-up of Peru’s real-time payment infrastructure is well-timed for ACI and Mastercard’s business prospects.
Mastercard has been actively innovating the real-time payment space. The company’s feat in terms of real-time payments implementations includes the launch of The Clearing House’s real-time payments in 2017, UK Faster Payments service, FAST in Singapore and PromptPay in Thailand. Mastercard is now providing real-time payments infrastructure for 12 of the top 50 GDP countries.
Another company in the same space Visa Inc. (V - Free Report) also facilitates real-time payments via its Visa Direct, which uses its global network to send money to billions of card accounts around the world. Some other companies providing real-time payments service include PayPal Holdings, Inc. (PYPL - Free Report) and Square Inc. (SQ - Free Report) among many other private players.
In six months’ time, the stock has lost 0.9% against its industry’s growth of 1.19%.
Mastercard (MA - Free Report) and ACI to provide real-time payments in Peru via CCE.
Mastercard (MA - Free Report) to Streamline Payment Platform in Peru Via ACI
Mastercard Inc. (MA - Free Report) and ACI Worldwide came together to provide real time payment services in Peru. Cámara de Compensación Electrónica (CCE) will utilize the ACI Enterprise Payments Platform to accelerate all Peru-based financial institutions’ access to Mastercard’s Instant Payment Service. It is the new real-time payments managed service that will enter Industry Testing in Peru later this year.
ACI will combine its payments access and real-time message transformation technology with Mastercard’s Immediate Payments Service. This central infrastructure is being deployed as a managed service using the ISO 20022 message standard to deliver an unmatched end-to-end offering for CCE. Notably, CCE’s IIT service operates 24/7; its transfers can be performed using internet or mobile banking and are processed in real time.
This real-time service is the need of the hour for CCE in Peru given that the volume of immediate transfers processed by the institution each month has more than quadrupled. In January 2020, it processed 580,000, a number that increased to more than 2.8 million per month by January 2021.
The latest pact is the follow-up of the September 2020 agreement between ACI Worldwide (ACIW) and Mastercard, which aimed at providing a wide range of real-time payment solutions globally.
Both companies collaborated to offer the 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 payments initiatives.
The strategic move by Mastercard reflects its intent to make it big in the real-time account-to-account payments market, which is evolving rapidly. Prime Time for Real-Time, a recent study that analyzes global real-time, account-to-account payment volumes and forecasts across 30 global markets, projects a Compound Annual Growth Rate (CAGR) of 23.4% from 2019 to 2024 for the payments market.
According to Mastercard, 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.
The payments market in Peru provides Mastercard and ACI with a good business avenue considering that Latin America is at the forefront of payments upgrade. In fact, Peru along with other many countries in the region is already looking to adopt real-time payments based on ISO 20022. Thus the build-up of Peru’s real-time payment infrastructure is well-timed for ACI and Mastercard’s business prospects.
Mastercard has been actively innovating the real-time payment space. The company’s feat in terms of real-time payments implementations includes the launch of The Clearing House’s real-time payments in 2017, UK Faster Payments service, FAST in Singapore and PromptPay in Thailand. Mastercard is now providing real-time payments infrastructure for 12 of the top 50 GDP countries.
Another company in the same space Visa Inc. (V - Free Report) also facilitates real-time payments via its Visa Direct, which uses its global network to send money to billions of card accounts around the world. Some other companies providing real-time payments service include PayPal Holdings, Inc. (PYPL - Free Report) and Square Inc. (SQ - Free Report) among many other private players.
In six months’ time, the stock has lost 0.9% against its industry’s growth of 1.19%.
Mastercard Inc. (MA - Free Report) and ACI Worldwide came together to provide real time payment services in Peru. Cámara de Compensación Electrónica (CCE) will utilize the ACI Enterprise Payments Platform to accelerate all Peru-based financial institutions’ access to Mastercard’s Instant Payment Service. It is the new real-time payments managed service that will enter Industry Testing in Peru later this year.
ACI will combine its payments access and real-time message transformation technology with Mastercard’s Immediate Payments Service. This central infrastructure is being deployed as a managed service using the ISO 20022 message standard to deliver an unmatched end-to-end offering for CCE. Notably, CCE’s IIT service operates 24/7; its transfers can be performed using internet or mobile banking and are processed in real time.
This real-time service is the need of the hour for CCE in Peru given that the volume of immediate transfers processed by the institution each month has more than quadrupled. In January 2020, it processed 580,000, a number that increased to more than 2.8 million per month by January 2021.
The latest pact is the follow-up of the September 2020 agreement between ACI Worldwide (ACIW) and Mastercard, which aimed at providing a wide range of real-time payment solutions globally.
Both companies collaborated to offer the 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 payments initiatives.
The strategic move by Mastercard reflects its intent to make it big in the real-time account-to-account payments market, which is evolving rapidly. Prime Time for Real-Time, a recent study that analyzes global real-time, account-to-account payment volumes and forecasts across 30 global markets, projects a Compound Annual Growth Rate (CAGR) of 23.4% from 2019 to 2024 for the payments market.
According to Mastercard, 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.
The payments market in Peru provides Mastercard and ACI with a good business avenue considering that Latin America is at the forefront of payments upgrade. In fact, Peru along with other many countries in the region is already looking to adopt real-time payments based on ISO 20022. Thus the build-up of Peru’s real-time payment infrastructure is well-timed for ACI and Mastercard’s business prospects.
Mastercard has been actively innovating the real-time payment space. The company’s feat in terms of real-time payments implementations includes the launch of The Clearing House’s real-time payments in 2017, UK Faster Payments service, FAST in Singapore and PromptPay in Thailand. Mastercard is now providing real-time payments infrastructure for 12 of the top 50 GDP countries.
Another company in the same space Visa Inc. (V - Free Report) also facilitates real-time payments via its Visa Direct, which uses its global network to send money to billions of card accounts around the world. Some other companies providing real-time payments service include PayPal Holdings, Inc. (PYPL - Free Report) and Square Inc. (SQ - Free Report) among many other private players.
In six months’ time, the stock has lost 0.9% against its industry’s growth of 1.19%.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Mastercard (MA) to Streamline Payment Platform in Peru Via ACI
Breakout Biotech Stocks with Triple-Digit Profit Potential