Financial and Business News

Temenos Collaborates with Mastercard to Enhance Cross-Border Payment

Tuesday, 04/06/2024 | 09:35 GMT by Tareq Sikder
  • The collaboration aims to improve payment infrastructure for financial institutions and clients.
  • Mastercard Move enables secure and swift transfers via various disbursement options.
temenos and Mastercard

Temenos, a cloud banking platform, has announced a strategic collaboration with Mastercard, a global technology company in the payments industry. The partnership aims to accelerate the implementation and delivery of Mastercard Move, Mastercard’s comprehensive portfolio of money transfer capabilities, to banks and their customers worldwide.

Diverse Disbursement Methods

Mastercard Move empowers banks to securely and swiftly move money across borders. It offers a cost-effective range of options for routing and delivering funds through Mastercard’s extensive global network.

Mick Fennell, Business Line Director – Payments at Temenos
Mick Fennell, Business Line Director – Payments at Temenos, Source: LinkedIn

With nearly 10 billion endpoints spanning over 180 countries, recipients can choose from various disbursement methods, including cards, bank accounts, cash pick-up locations, and mobile wallets.

Mick Fennell, Business Line Director – Payments at Temenos, expressed excitement about the partnership: “By combining Mastercard Move’s capabilities with our flexible Payments Hub, integrated with our comprehensive account services, we are empowering banks to turn on a new cross-border distribution option with ease and provide their customers with seamless and secure international payment experiences.”

Payment Sources and Channels

Roberto Tittarelli, EVP New Payments Platform Europe at Mastercard
Roberto Tittarelli, EVP New Payments Platform Europe at Mastercard, Source: LinkedIn

By integrating Mastercard Move into the Temenos Payments Hub, Temenos customers gain seamless access to cross-border capabilities. This consolidation streamlines payment sources and channels, connecting multiple clearing and distribution networks and services.

The Temenos Payments Hub, built on a cloud-native, API-first architecture, efficiently manages multiple payment clearing rails, services, and payment types. Its intelligent routing ensures scalability to meet the evolving demands of the payments landscape.

Roberto Tittarelli, EVP New Payments Platform Europe at Mastercard, emphasized the benefits for banks: “With the integration of Mastercard Move’s money transfer solutions with Temenos’ payments capabilities, banks will benefit from a streamlined process to deploy, scale, and maintain ongoing interoperability for cross-border payments. This will in turn provide the banks’ customers with fast, secure, and efficient cross-border payments, making them the ultimate beneficiaries.”

Temenos, a cloud banking platform, has announced a strategic collaboration with Mastercard, a global technology company in the payments industry. The partnership aims to accelerate the implementation and delivery of Mastercard Move, Mastercard’s comprehensive portfolio of money transfer capabilities, to banks and their customers worldwide.

Diverse Disbursement Methods

Mastercard Move empowers banks to securely and swiftly move money across borders. It offers a cost-effective range of options for routing and delivering funds through Mastercard’s extensive global network.

Mick Fennell, Business Line Director – Payments at Temenos
Mick Fennell, Business Line Director – Payments at Temenos, Source: LinkedIn

With nearly 10 billion endpoints spanning over 180 countries, recipients can choose from various disbursement methods, including cards, bank accounts, cash pick-up locations, and mobile wallets.

Mick Fennell, Business Line Director – Payments at Temenos, expressed excitement about the partnership: “By combining Mastercard Move’s capabilities with our flexible Payments Hub, integrated with our comprehensive account services, we are empowering banks to turn on a new cross-border distribution option with ease and provide their customers with seamless and secure international payment experiences.”

Payment Sources and Channels

Roberto Tittarelli, EVP New Payments Platform Europe at Mastercard
Roberto Tittarelli, EVP New Payments Platform Europe at Mastercard, Source: LinkedIn

By integrating Mastercard Move into the Temenos Payments Hub, Temenos customers gain seamless access to cross-border capabilities. This consolidation streamlines payment sources and channels, connecting multiple clearing and distribution networks and services.

The Temenos Payments Hub, built on a cloud-native, API-first architecture, efficiently manages multiple payment clearing rails, services, and payment types. Its intelligent routing ensures scalability to meet the evolving demands of the payments landscape.

Roberto Tittarelli, EVP New Payments Platform Europe at Mastercard, emphasized the benefits for banks: “With the integration of Mastercard Move’s money transfer solutions with Temenos’ payments capabilities, banks will benefit from a streamlined process to deploy, scale, and maintain ongoing interoperability for cross-border payments. This will in turn provide the banks’ customers with fast, secure, and efficient cross-border payments, making them the ultimate beneficiaries.”

Topics
payment
fintech
temenos
mastercard
About the Author: Tareq Sikder
Tareq Sikder
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A Forex technical analyst and writer who has been engaged in financial writing for 12 years.

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