MasterCard has unveiled the MasterCard
Integrated Processing Solutions (MIPS), a debit processing solution
for US banks it believes will enable them to transform the way they
expand their payments product offerings.
Integrated Processing Solutions (MIPS), a debit processing solution
for US banks it believes will enable them to transform the way they
expand their payments product offerings.
One of MIPS’ key features is enabling banks to
rapidly design and deploy innovative signature, PIN and prepaid
debit payment products and services that can be customised at
local, regional and national levels.
rapidly design and deploy innovative signature, PIN and prepaid
debit payment products and services that can be customised at
local, regional and national levels.
“Using MasterCard IPS is like moving from the
highway to the runway,” said Tim Murphy, president of MasterCard’s
US region. “The platform streamlines the launch of next-generation
payment systems to help our customers’ businesses take off.” He
continued that with “traditional cobbled-together legacy systems”
banks face a time consuming, unreliable path to achieving business
goals. This constraint, he stressed, is eliminated by MIPS which
has been built as an integrated solution with the most advanced
software and is unencumbered by legacy systems constraints.
highway to the runway,” said Tim Murphy, president of MasterCard’s
US region. “The platform streamlines the launch of next-generation
payment systems to help our customers’ businesses take off.” He
continued that with “traditional cobbled-together legacy systems”
banks face a time consuming, unreliable path to achieving business
goals. This constraint, he stressed, is eliminated by MIPS which
has been built as an integrated solution with the most advanced
software and is unencumbered by legacy systems constraints.
In addition to creating new debit products MIPS
enables banks to transform ATM networks into what MasterCard termed
“advanced distribution channels.” For example, a bank wishing to
increase debit transaction volume could direct a promotion to
frequent ATM users to encourage their use of debit cards for
purchases.
enables banks to transform ATM networks into what MasterCard termed
“advanced distribution channels.” For example, a bank wishing to
increase debit transaction volume could direct a promotion to
frequent ATM users to encourage their use of debit cards for
purchases.
A key part of MIPS is payments software vendor
ACI Worldwide’s BASE24-eps, a management system that facilitates
acquiring, authentication, routing, switching and authorisation of
transactions across multiple channels. Additional functionality
ACI’s system provides is ATM driving, transaction monitoring and
payments settlements management.
ACI Worldwide’s BASE24-eps, a management system that facilitates
acquiring, authentication, routing, switching and authorisation of
transactions across multiple channels. Additional functionality
ACI’s system provides is ATM driving, transaction monitoring and
payments settlements management.
Commenting on the selection of BASE24-eps
George Spies, MasterCard Global Operations’ senior vice president,
said: “MasterCard sought the most advanced in-production payments
solutions in the industry to help drive the payment innovations
necessary to lead in this growing market.”
George Spies, MasterCard Global Operations’ senior vice president,
said: “MasterCard sought the most advanced in-production payments
solutions in the industry to help drive the payment innovations
necessary to lead in this growing market.”
Commending MasterCard’s selection of ACI Adil
Moussa, an analyst with consultancy Aite Group, said: “The
integration between ACI’s BASE24-eps and the MasterCard IPS
platform puts a powerful tool at the hands of banks to manage their
accounts and to differentiate themselves in today’s marketplace.
The intricacies of the MasterCard IPS platform are facilitated by
ACI’s payments manager and put into a single connection for the
end-user.”
Moussa, an analyst with consultancy Aite Group, said: “The
integration between ACI’s BASE24-eps and the MasterCard IPS
platform puts a powerful tool at the hands of banks to manage their
accounts and to differentiate themselves in today’s marketplace.
The intricacies of the MasterCard IPS platform are facilitated by
ACI’s payments manager and put into a single connection for the
end-user.”
Go deeper with GlobalData
