Mastercard, ACI Worldwide partner for real-time payments in Peru

Tuesday 23 February 2021 11:00 CET | News

Mastercard and ACI Worldwide have announced that Cámara de Compensación Electrónica (CCE) will utilise their collaborative work that will enter Industry Testing in Peru later in 2021. 

CCE is the first customer Mastercard and ACI will collaborate on following the announcement of their alliance in September 2020. Mastercard and ACI are working together to offer central infrastructure, payments localisation, and access solutions to central banks, scheme operators, financial institutions, payment service providers, and other organisations launching real-time payments initiatives.

CCE is a private institution that manages the clearing of financial institutions’ transfers, direct debits, credit installments, checks, and bills of exchange. It initially launched its real-time payments scheme - Immediate Interbank Transfers (IIT) - in 2016 and is working with Mastercard to fully modernise Peru’s digital payments infrastructure. The announcement means that ACI will combine its payments access and real-time message transformation technology with Mastercard’s Immediate Payments Service, the central infrastructure being deployed as a managed service using the ISO 20022 message standard to deliver an end-to-end offering for CCE. CCE’s IIT’s transfers can be performed using internet or mobile banking and are processed in real time.

The ACI Enterprise Payments Platform will operate alongside Mastercard’s Immediate Payments Service to improve connectivity for participants to Peru’s new real-time ISO 20022 scheme, ahead of Industry Testing, which will begin later in 2021. Financial institutions will be able to connect to the new scheme via new APIs, according to the official press release.  

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Keywords: MasterCard, ACI Worldwide, Peru, real-time payments, payments , ISO 20022
Categories: Payments & Commerce
Countries: Peru
This article is part of category

Payments & Commerce