Mastercard has introduced a range of Smart Payment Decisioning Tools to minimise the risks associated with ACH payments and enhance cost and speed by leveraging open banking.

The new tools, Payment Success Indicator and Payment Routing Optimiser, is designed to facilitate secure payments and account creation.

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Utilising real-time bank account data shared by the consumer, Payment Success Indicator will enable payment originators to access their balance and historical behavioural risk patterns for every transaction.

Payment Routing Optimizer is designed to interpret that score and suggest an optimal day and payment rail while also considering account cost, speed and risk.

The tool will recommend using Same Day ACH, if Payment Success Indicator interpret the balance for a transaction is available at the time but may not be available in the coming days.

The tools will enable merchants to tap advanced data analytics and machine learning to turn payment experience safer and smarter for their customers, according to the company.

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Mastercard North America Product and Engineering executive vice president Chiro Aikat said: “By fundamentally improving the payment experience and solving real-world challenges, we are delivering new technologies to offer more ways to pay with greater speed, convenience and confidence.”

Fintech firm Bilt Rewards Alliance is among one of the first fintech partners of Mastercard to implement Payment Success Indicator.

Bilt is a collection of over 2 million rental homes that lets renters earn points by paying rent.

Earlier this month, Mastercard suspended its operations in Russia over the country’s invasion of Ukraine and subsequent sanctions.

Previously, the firm had blocked several Russian financial institutions on its payment network.