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Mastercard Introduces Real-Time Payments in South Africa
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Mastercard Incorporated (MA - Free Report) recently announced the launch of real-time card payments in South Africa in partnership with ACI Worldwide. This initiative will allow South African merchants to receive faster payouts and empower businesses with better cash flow management and more visibility over their funds. By enabling real-time payments, Mastercard enhances the velocity of money, driving growth and innovation in the South African economy.
This move bodes well for Mastercard as it aligns with the South African Reserve Bank’s National Payments System Strategy Vision 2025 of enhancing payment systems to drive financial inclusion. MA aims to roll out these real-time card payments feature across the globe. New standards and solutions aimed at enabling same-day payouts for South African merchants enhance the value proposition of Mastercard. Moreover, such innovations by Mastercard will aid in attracting more merchants and financial institutions. Improved payment volumes might translate to higher net revenues in the future.
This strategic move is expected to position Mastercard as a leader in immediate and secure payment solutions. Mastercard’s advancements will enable acquirers to process real-time transactions, reducing liquidity constraints and providing businesses with more flexibility. This move will aid MA in driving growth through financial inclusion. MA aims to connect 1 billion people by 2025 to the digital economy.
Moves like this should aid MA in achieving its net revenue growth target of low-double-digits in 2024. Companies like Visa Inc. (V - Free Report) , PayPal Holdings, Inc. (PYPL - Free Report) and American Express Company (AXP - Free Report) are also bringing out continued innovations to enhance their payment systems. V launched the Visa Tokenized Asset Platform, which helps banks issue fiat-backed tokens on blockchain networks. PayPal introduced Fastlane, aimed at improving the speed and convenience of online payments for merchants and customers. AXP and Boost Payment Solution recently partnered to streamline the acceptance of AXP virtual cards.
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Mastercard Introduces Real-Time Payments in South Africa
Mastercard Incorporated (MA - Free Report) recently announced the launch of real-time card payments in South Africa in partnership with ACI Worldwide. This initiative will allow South African merchants to receive faster payouts and empower businesses with better cash flow management and more visibility over their funds. By enabling real-time payments, Mastercard enhances the velocity of money, driving growth and innovation in the South African economy.
This move bodes well for Mastercard as it aligns with the South African Reserve Bank’s National Payments System Strategy Vision 2025 of enhancing payment systems to drive financial inclusion. MA aims to roll out these real-time card payments feature across the globe. New standards and solutions aimed at enabling same-day payouts for South African merchants enhance the value proposition of Mastercard. Moreover, such innovations by Mastercard will aid in attracting more merchants and financial institutions. Improved payment volumes might translate to higher net revenues in the future.
This strategic move is expected to position Mastercard as a leader in immediate and secure payment solutions. Mastercard’s advancements will enable acquirers to process real-time transactions, reducing liquidity constraints and providing businesses with more flexibility. This move will aid MA in driving growth through financial inclusion. MA aims to connect 1 billion people by 2025 to the digital economy.
Moves like this should aid MA in achieving its net revenue growth target of low-double-digits in 2024. Companies like Visa Inc. (V - Free Report) , PayPal Holdings, Inc. (PYPL - Free Report) and American Express Company (AXP - Free Report) are also bringing out continued innovations to enhance their payment systems. V launched the Visa Tokenized Asset Platform, which helps banks issue fiat-backed tokens on blockchain networks. PayPal introduced Fastlane, aimed at improving the speed and convenience of online payments for merchants and customers. AXP and Boost Payment Solution recently partnered to streamline the acceptance of AXP virtual cards.