Global digital services and consulting company Infosys has partnered with Mastercard to extend access to Mastercard Move for financial institutions.
Mastercard Move is the global network’s portfolio of money movement capabilities. The solution provides direct disbursers, banks, non-bank financial institutions, and their customers with money transfer solutions, both domestically and internationally. Mastercard Move’s portfolio of solutions spans over 200 countries and 150+ currencies, and it reportedly has access to more than 95 per cent of the banked population worldwide.
Its integration with Infosys Finacle, part of EdgeVerve Systems, a subsidiary of Infosys, creates an optimised pathway for financial institutions to access Mastercard Move's cross-border capabilities, reducing the typical implementation time and eliminating the intensive resourcing traditionally needed for integration projects. Moreover, by combining Mastercard’s global money movement capabilities with Infosys’ composable banking platform, the partnership strives to help deliver fast and secure cross-border experiences for every customer segment.
According to an official from Mastercard, cited in the official press release, the joint effort between the card network and Infosys aligns with the company’s broader goal of increasing access and scaling the reach of remittance services, as well as its portfolio of commercial payments solutions. The move comes as global remittances continue to grow, driven by migration, digitalisation, and economic growth. In 2024, Asia reportedly accounted for nearly half of global inflows.
As per an Infosys official, as customers are making digital transactions more often, financial institutions are prioritising making updates to their digital payment systems in a bid to foster long-term loyalty, particularly as consumers tend to opt for institutions that offer fast, secure, and seamless transaction experiences. The collaboration between the global digital services and consulting company and Mastercard aims to enable near-real-time cross-border payments and improve the financial experiences of everyday customers.
