Mastercard has launched a new product, Mastercard Move Commercial Payments, designed to enable banks to facilitate near real-time, transparent, and predictable cross-border commercial payments. Announced at the Sibos conference in Beijing, this innovation aims to simplify banking operations, optimize liquidity, reduce counterparty risk, and offer full transaction visibility for banks and their customers.
As cross-border payments grow at double-digit rates, driven by global expansion of business operations, many banks face challenges with slow, unpredictable payments lacking pricing transparency. Mastercard Move Commercial Payments addresses these issues with features such as 24/7 near real-time payments, flexible settlement options, reduced counterparty risk, and seamless integration with Swift messaging infrastructure. Banks can now improve corporate trade payments, treasury flows, and working capital efficiency while enhancing their offerings to corporate clients.
The solution is fully compatible with existing banking arrangements and can be extended by clearing banks to their institutional clients with minimal changes. It also offers value-added services, including risk control and fraud analytics.
Alan Marquard, Head of Transfer Solutions at Mastercard, emphasized the benefits: “Mastercard Move Commercial Payments brings the speed, transparency, and predictability of domestic payments to the cross-border commercial payment space, empowering banks to create new revenue streams while mitigating risks.”
In a UK pilot with Lloyds Banking Group and UBS, the platform has demonstrated near real-time, around-the-clock cross-border transfers, using Fnality as the settlement venue.
Mastercard Move Commercial Payments is part of Mastercard’s broader Move portfolio, which supports fast and secure money transfers for individuals and businesses globally.
About Mastercard
Mastercard (NYSE: MA) is a global technology company in the payments industry, enabling secure, simple, and accessible transactions across 210 countries. Through innovation, Mastercard helps people, financial institutions, and businesses reach their potential, fostering an inclusive, digital economy.
About Mastercard Move
Mastercard Move is a comprehensive portfolio of payment solutions that power a wide range of money movement experiences for individuals and businesses, reaching nearly 10 billion endpoints and over 95% of the world’s banked population.
