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Mastercard Incorporated (NYSE:MA) shares are trading slightly higher today. On Tuesday, the company announced that South Africa will be the first market globally to benefit from immediate Mastercard card payments.
The company will introduce new standards and solutions to accelerate card transaction processing, enabling same-day payouts for South African merchants through real-time clearing and more frequent settlements.
This initiative supports economic growth and will extend to global banks, allowing real-time card payments for consumers, improving transaction speed and fund visibility.
Also, this move will support the South African Reserve Bank’s National Payments System Strategy Vision 2025, focusing on financial inclusion.
Gabriel Swanepoel, Southern Africa Country Manager, Mastercard, said, “By enhancing processing standards and delivering faster clearing and settlement, we aim to support small businesses with better cash flow and enable acquirers to manage liquidity more effectively.”
Mastercard is partnering with global payments technology provider ACI Worldwide to realize its vision of real-time card payments. Through this collaboration, Mastercard will enable acquirers in South Africa to swiftly and seamlessly adopt real-time transaction processing standards.
“We share Mastercard’s commitment to leveraging technology to empower the South African market with an advanced and inclusive payments system. This initiative will ultimately improve liquidity and enable faster access to funds, delivering more seamless payments experiences for local customers and businesses,” stated Bill Farris, Head of Issuing & Acquiring, ACI Worldwide.
In another development, Cantaloupe, Inc. (NASDAQ:CTLP) revealed the launch of its Advantage program. This program allows brands to engage with consumers through digital advertising on Cantaloupe’s point-of-sale (POS) touchscreen devices across the U.S. and Canada. The program’s first collaborative campaign is with Mastercard.
Investors can gain exposure to the stock via iShares U.S. Financial Services ETF (NYSE:IYG) and BlackRock Long-Term U.S. Equity ETF (NASDAQ:BELT).
Price Action: MA shares are up 0.36% at $498.83 at the last check Wednesday.
Photo via Shutterstock
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