Mastercard onboards customers up to four times faster with Cloud Edge
* Backed by leading cloud providers like AWS, Cloud Edge gives customers greater flexibility and choice
Fintechs worldwide are expected to grow approximately three times faster than the overall banking industry through 2028, powered largely by emerging markets growth in Asia Pacific[1]. This growth is further accelerated by cloud computing and will account for over $1 trillion in value across the world's top 500 companies. In Asia Pacific, cloud computing is integral for fintech growth and is set to drive the market to a projected value of nearly $311 billion by 2029[2].
'With Cloud Edge, Mastercard brings pioneering innovations in cloud and payments to Asia Pacific banks, financial institutions, and cloud-native organizations – meeting forward-thinking customers where they want to be,' said Sandeep Malhotra, executive vice president, Core Payments, Asia Pacific, Mastercard. 'Cloud Edge reinforces Mastercard's commitment to resiliency, redundancy and security while offering customers cost efficiency as well as greater choice, speed and flexibility. For instance, with cloud computing, fintechs can serve customers easily during demand spikes like national holidays or sales events without needing more physical infrastructure.'
As an additional onboarding option, Mastercard Cloud Edge provides customers, including issuers, acquirers, network enablement partners and payment processors, with:
* Seamless, private connectivity to Mastercard powered by the speed and scale of the cloud across Asia Pacific so customers are not tied to a single IT infrastructure or on-premises solutions.
* Cloud Edge accelerates time to market and ensures regulatory compliance with local data storage and processing requirements so customers can develop fintech solutions more quickly.
* Lower capital expenditure and maintenance costs by avoiding physical data center overheads.
* Direct access to modern payment technology such as Transaction APIs built on ISO 20022-standardized payloads.
For example, Episode Six, a global provider of enterprise-grade ledger and cards infrastructure, is using Cloud Edge to assist banks, fintechs and payments organizations in Asia Pacific as they design and launch leading digital payment propositions like credit and B2B payments.
'All of Episode Six's bank-grade technology was created specifically for the cloud, and as such, we understand how important infrastructure is for partners to scale with greater security now and in the future,' said John Mitchell, Co-Founder and CEO, Episode Six. 'We are excited to collaborate with Mastercard on Cloud Edge so that we can reduce time to market for their clients, while ensuring security, backup and protection by encrypting and storing data in the cloud.'
'The AWS Regions across Asia Pacific offer Mastercard extensive connectivity and secure cloud services. Together with Mastercard's global footprint, this provides organizations in the region with payment network access at low latency, ensuring seamless operations as well as compliance with regional data residency regulations,' said Scott Mullins, Managing Director, Financial Services, AWS.
Mastercard Cloud Edge is available in Asia Pacific markets (including India, Australia, Singapore, Hong Kong SAR, Thailand), the United States, Canada and parts of Europe, Latin America, the Caribbean, Middle East and Africa.
About Mastercard (NYSE: MA), www.mastercard.com
Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we're building a resilient economy where everyone can prosper. We support a wide range of digital payments choices, making transactions secure, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential.
[1] McKinsey: https://www.mckinsey.com/featured-insights/mckinsey-explainers/what-is-fintech
[2] Mordor Intelligence: https://www.mordorintelligence.com/industry-reports/asia-pacific-fintech-market
(ADVERTORIAL DISCLAIMER: The above press release has been provided by PRNewswire. ANI will not be responsible in any way for the content of the same)
This story is auto-generated from a syndicated feed. ThePrint holds no responsibility for its content.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India Today
4 hours ago
- India Today
Apple is paying Rs 1,750 to some Apple Watch users, check here if you are eligible to get it
Apple has reportedly begun sending out payments of around Rs 1,750 (roughly $20) to some Apple Watch users using the older gen devices. The payment follows the resolution of a lawsuit in the United States that was filed against the company over swollen battery issues in early Apple Watch payments are being sent out this week in the form of prepaid Mastercard cards via email (via MacRumors). So, if you suddenly find a message in your inbox referring to Smith et al. v. Apple Inc. Settlement with a digital prepaid card attached, it might just be your share of the payout from is getting the money?This settlement applies to owners of Apple Watch Series 1, Series 2, and Series 3 models who reported battery swelling problems to Apple. In some cases, users did not even have to file a claim, anyone already on Apple's service records for such issues was automatically included. Others users had until 10 April 2025 to submit a claim through the official settlement website. Notably, while the minimum payout was set at $20 per affected device, the final amount depends on the total number of approved claims. Some recipients have reported getting slightly more around $25. However, the amount will only be sent to Apple Watch users in the United States and not to Indian is Apple paying this?The payment comes as part of a $20 million class-action settlement that Apple agreed to earlier this year. The lawsuit, originally filed in 2021 in the U.S. District Court for the Northern District of California, claimed that certain older Apple Watch models were designed without keeping enough internal space to fit in normal battery expansion over to the plaintiffs, swollen batteries could push against the display, causing it to lift or detach from the casing entirely. In some cases, users said this led to operational problems, and in more severe incidents, sharp edges from the detached screens allegedly caused cuts or lawsuit accused Apple of being aware of this potential flaw but continuing to sell the devices without issuing adequate warnings or recalling them. The plaintiffs sought damages not only for the cost of repairs and replacements but also for injuries and other Apple has consistently denied any wrongdoing and has not admitted that there is a defect in the affected Apple Watch models. The company maintains that the devices were safe to use. However, to avoid the time and expense of a prolonged court battle, Apple agreed to the $20 million settlement fund earlier this year. The fund is being used to pay eligible claimants, cover legal fees, and handle administrative costs of the settlement.- Ends
Time of India
7 hours ago
- Time of India
Strengthening Cybersecurity at Crystal Crop Protection
Academy Empower your mind, elevate your skills With a progressive vision and a solid foundation in information security, Sonu Vashist stands out as a dynamic and accomplished IT leader. Currently serving as Deputy General Manager IT at Crystal Crop Protection Limited, Vashist brings deep expertise in designing and executing enterprise-wide security strategies that align with evolving digital landscapes and business his career, Vashist has led the implementation of comprehensive security infrastructures, encompassing Active Directory (AD), Zero Trust Network Access (ZTNA), Single Sign-On (SSO), endpoint security, and network security, laying the groundwork for a secure and resilient IT is known to have architected a robust network security infrastructure using advanced firewalls, IDS/IPS systems, secure VPNs, and segmentation strategies to protect internal and external communications. Additionally, he built and managed a 24/7 Security Operations Center (SOC), integrating SIEM tools and threat intelligence to enable proactive cyber defence. Vashist further developed enterprise-wide security policies based on ISO 27001, NIST, and GDPR standards to safeguard data privacy, integrity, and availability. Furthermore, he has also overseen the deployment of EPP/EDR solutions to ensure real-time threat detection, automated response, and policy brings a wide range of technical and strategic strengths, including IT infrastructure and operations management, cloud security across AWS and Azure platforms, digital transformation leadership, and project/process optimisation. He is also highly skilled in designing security architectures, implementing data loss prevention (DLP) strategies, managing identity and access governance, and establishing effective disaster recovery and business continuity plans. His commitment to innovation, operational excellence, and a security-first culture continues to make a significant impact across the approach combines technical depth with strategic foresight, driving innovation while embedding a strong security-first culture across the organisation. Vashist's work continues to be instrumental in enhancing Crystal Crop Protection's digital resilience and operational integrity.
United News of India
2 days ago
- United News of India
Wipro leverages an integrated cloud platform in a strategic project for AusNet
New Delhi, Aug 11 (UNI) Wipro announced a project completion for AusNet, which is Victoria's diversified energy network business, by using technologies including 'RISE with SAP S/4 HANA Cloud Private Edition.' 'RISE with SAP S/4 HANA Cloud Private Edition' is a comprehensive setup that provides customized enterprise resource planning (ERP) solutions for businesses looking to modernize their SAP systems. AusNet is responsible for transmitting and distributing energy in Victoria, Australia. The organization uses advanced technologies, including Amazon Web Services (AWS), SAP, Databricks, etc. Tech major Wipro also said the program was delivered ahead of schedule because of replacing legacy systems with an integrated modern cloud platform. Chris Galland, CTO, AusNet, said, ' We worked collaboratively with our partners and internal teams both onshore and offshore to ensure our customers, field teams, and retailers had a seamless experience throughout the cutover window.' This program was completed by Wipro in just 18 months and set a new benchmark for ERP upgrades. Moreover, this project also achieves high operational efficiency through the successful deployment of geospatial mapping tools. Ketan Panchal, Managing Director and Country Head for Australia, Wipro, said, ' The seamless collaboration between AusNet, SAP, and Wipro has resulted in a transformative upgrade for AusNet's digital infrastructure. ' ' Wipro's expertise lies in navigating businesses through their digital transformation journeys and unlocking potential by integrating cutting-edge technologies, industry-focused solutions, and AI-powered devices,' Panchal added. UNI SAS BM
