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Mastercard introduced a new product innovation, Mastercard Move Commercial Payments, that will enable banks to facilitate nearreal-time, predictable and transparent commercial cross-borderpayments.
Mastercard launched Move Commercial Payments , a real-timecross-borderpayments solution that operates 24/7. The new commercial payments tool leverages a multi-rail system that includes SWIFT, Visa Direct, and Mastercard’s proprietary networks. with Lloyds Banking Group and UBS.
Payments giant Mastercard has launched a new cross-borderpayments solution in a move to simplify operations, optimise liquidity, reduce counterparty risk and provide end-to-end visibility for banks and their customers.
However, blockchain is also gaining ground, and currency is offering a boost to the payments infrastructure. To that end, IBM said it launched its Blockchain World Wire , billed as a cross-borderpayment system that is powered by the Stellar blockchain network. Africa As Greenfield Payments Opportunity.
Transaction data, particularly in the context of cross-borderpayments, has grown increasingly vital as transactions move towards near-real-time processing, with the goal of achieving real-time transactions. There is a significant collaborative effort among countries to set up these rails.
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