Mastercard Partners Infosys to Accelerate Cross-Border Pay
Mastercard has formed a strategic partnership with Infosys to streamline bank access to its Move cross-border payments portfolio through integration with the Finacle core banking platform.
The collaboration enables financial institutions to deploy Mastercard Move capabilities without the resource-intensive integration projects typically required.
Banks can access the service through Infosys Finacle, owned by EdgeVerve Systems, a wholly owned subsidiary of Infosys.
Mastercard Move serves direct disbursers, banks and non-bank financial institutions with domestic and international money transfer solutions.
The portfolio reaches more than 200 countries and 150 currencies, covering 95 per cent of the world's banked population.
Targeting remittance growth
Global remittance flows continue expanding, particularly across Asia-Pacific markets which received nearly half of worldwide inflows during 2024.
The growth stems from increased migration patterns, digital adoption and economic development across emerging markets.
Pratik Khowala, Executive Vice President and Global Head of Transfer Solutions at Mastercard, says the partnership provides financial institutions with enhanced control over risk, operations, costs and liquidity.
“Through Mastercard Move's cutting-edge solutions, we empower individuals and organisations to move money quickly and securely across borders,” Pratik says.
Traditional deployments require significant technical resources and extended timeframes before institutions can offer cross-border services to customers.
The Finacle integration addresses these operational challenges by reducing implementation complexity.
Anouska Ladds, Executive Vice President for Commercial and New Payment Flows in Asia Pacific at Mastercard, says the company continues investing in money movement solutions while expanding its partner network.
“We are committed to identifying innovative ways to increase access and truly scale the reach of remittance services and our broader portfolio of commercial payments solutions,” Anouska says.
Platform architecture benefits
The integration creates a pathway for banks to deploy international payment capabilities whilst maintaining regulatory compliance across different jurisdictions.
Financial institutions can access Mastercard's global network without developing separate technical infrastructure.
Cross-border payments represent a competitive sector for financial technology companies and traditional banks.
Alternative payment providers have gained market share by offering faster, cheaper international transfers compared to conventional banking channels.
Dennis Gada, Executive Vice President and Global Head of Banking and Financial Services at Infosys, says payment systems have become a differentiating factor for banks competing for customer loyalty.
“Financial institutions are prioritising advancements in digital payment systems. The frequency of daily transactions makes it a primary touchpoint with customers and the key to building long-term loyalty,” Dennis says.
Finacle operates as Infosys's core banking platform, providing digital banking capabilities to financial institutions globally.
The platform offers modular architecture allowing banks to deploy specific services without comprehensive system overhauls.
Commercial deployment
Banks using the integrated solution can offer customers near real-time international payments whilst maintaining compliance with local regulatory frameworks.
The partnership addresses both retail and commercial payment requirements across different customer segments.
The collaboration positions both companies to capture market share in the expanding remittance sector.
“This engagement with Mastercard Move brings together the agility of our composable banking platform with Mastercard's unmatched global money movement capabilities, empowering banks to deliver fast and secure cross-border experiences for every customer segment”
Regulatory requirements across different jurisdictions create complexity for institutions seeking to offer international transfer services independently.
Financial institutions can now access Mastercard Move's global reach through a single integration point rather than managing multiple correspondent banking relationships.
This reduces operational overhead and accelerates time-to-market for new cross-border services.
The partnership enables banks to compete more effectively against fintech challengers that have disrupted traditional international money transfer markets.
Incumbent financial institutions can now deploy similar capabilities without the technical complexity typically associated with cross-border payment systems.
Sajit Vijayakumar, CEO of Infosys Finacle, says the collaboration combines platform flexibility with global payment infrastructure.
“This engagement with Mastercard Move brings together the agility of our composable banking platform with Mastercard's unmatched global money movement capabilities, empowering banks to deliver fast and secure cross-border experiences for every customer segment,” Sajit says.
