Mastercard Cuts APAC Onboarding Time with Cloud Service
Mastercard has launched a cloud-based connectivity service that reduces customer onboarding times by up to four times across Asia Pacific markets.
The Cloud Edge platform, developed in partnership with Amazon Web Services (AWS), targets banks and fintechs seeking faster market entry for payment products.
“Cloud Edge reinforces Mastercard's commitment to resiliency, redundancy and security whilst offering customers cost efficiency as well as greater choice, speed and flexibility,” says Sandeep Malhotra, EVP for Core Payments in Asia Pacific at Mastercard.
The payment network operator says the service addresses growing demand from financial technology companies, which are projected to expand three times faster than traditional banks through 2028.
This growth stems primarily from emerging markets in Asia Pacific, where cloud computing infrastructure is expected to reach US$311bn in market value by 2029.
Cloud Edge provides an alternative to physical infrastructure for payment processors, issuers, acquirers and network enablement partners. The service operates across multiple AWS regions in Asia Pacific, including India, Australia, Singapore, Hong Kong and Thailand.
“With cloud computing, fintechs can serve customers easily during demand spikes like national holidays or sales events without needing more physical infrastructure”
Infrastructure demands drive adoption
Financial technology companies face increasing pressure to scale operations during peak demand periods without substantial capital expenditure on physical data centres.
Cloud Edge addresses this challenge by offering elastic computing resources that expand during high-traffic events such as national holidays or promotional sales periods.
“With cloud computing, fintechs can serve customers easily during demand spikes like national holidays or sales events without needing more physical infrastructure,” Sandeep says.
The service includes private connectivity to Mastercard's payment network, regulatory compliance tools for local data storage requirements, and access to transaction APIs built on ISO 20022 standards.
These features enable payment companies to develop and deploy services without maintaining dedicated on-premises infrastructure.
Episode Six, which provides ledger and card infrastructure to financial institutions, has integrated Cloud Edge into its operations across Asia Pacific. The company uses the platform to support banks and fintechs developing credit and business-to-business payment services.
“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,” says John Mitchell, Co-founder and CEO of Episode Six.
Market expansion strategy
Mastercard’s cloud service targets organisations seeking to reduce time-to-market for payment products whilst meeting regional data residency requirements.
AWS provides the underlying cloud infrastructure across multiple regions, offering low-latency connectivity to Mastercard's global payment network.
“The AWS Regions across Asia Pacific offer Mastercard extensive connectivity and secure cloud services,” says Scott Mullins, Managing Director for Financial services at AWS.
“Together with Mastercard's global footprint, this provides organisations in the region with payment network access at low latency, ensuring seamless operations as well as compliance with regional data residency regulations.”
Payment processors using Cloud Edge can access modern payment technology including real-time transaction processing and compliance tools designed for regulated financial services.
The platform encrypts and stores customer data in cloud environments rather than requiring dedicated hardware installations.
“We are excited to collaborate with Mastercard on Cloud Edge so that we can reduce time to market for their clients, whilst ensuring security, backup and protection by encrypting and storing data in the cloud,” John concludes.
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