Wednesday, October 30th, 2019
Currently, the B2B world is focused on faster payments. The future of real-time payments is already here: no need to wait for it to arrive. To know the details of the recent initiative by MaterCard Inc. and discover the best payment processor in the UK, just go on reading this post.
Race to Real-Time Payments
The need for real-time payment solutions is making companies start billion-dollar initiatives to make their instant-payment dream a reality. Big players in payments are doing their best for this purpose. In fact, mergers and acquisitions are the result of this.
MasterCard Inc. has recently announced its biggest acquisition in the company’s history aimed at streamlining its real-time, bill payments, and not only. This famous card network announced its intention to acquire the account-to-account segment of Nets Group for $3.19 billion. The latter is a payments-processing company based in Denmark.
The acquisition enables real-time payments between bank accounts in Europe, as well as several associated applications and services. Given all the development in the payments field, it’s critical to work with only a true payments expert that can help you with the most advanced payment solutions in the industry.
This can’t be an issue if you work with a reputable payments-processor comparison company like Best Payment Providers in the UK that can best help you with real-time payments. Best Payment Providers is dedicated to helping you discover exceptional merchant-processing services geared to your own financial needs
Importantly, Best Payment Providers is focused on terms, complaints, and integration and always reviews contracts, rates, and fees. Thus, you can be sure to enjoy the right deal for your company. With Best Payment Providers, you can easily avoid unclear terminology, unnecessary costs, and dishonest sales tactics.
Faster Payments by MasterCard
According to MasterCard’s senior vice president of product management and new payments, outside the US, 56 countries have already using payment solutions for real-time transactions, or are in the process of adoption. That number accounts for 89% of the world’s GDP (gross domestic product).
The card-network giant is now committed to delivering real-time and digital-payment solutions across Asia Pacific. The data centres will be in Thailand and Singapore.
MasterCard has announced its willingness to go on extending innovative-payments applications and value-added services. This refers to, e.g., “Pay by Account,” which aims to allow consumers to make payments right from their accounts at eligible-domestic and international MasterCard points for contactless transactions, as well as at those with QR acceptance.
Earlier, the intention to deliver faster payments led to the merger of Fiserv and its competitor First Data in a $39bn all-stock transaction. In addition, Fidelity National Information Services (FIS) and WorldPay announced their deal ($43bn).
To sum up, the card-network giant MasterCard has recently announced its plans to obtain the majority of the corporate services offered by European payment-services company Nets for $3.2 billion. This is the biggest acquisition throughout the company’s history.
MasterCard’s decision has made the Federal Reserve start building the groundwork for a new, tech-driven infrastructure that’s focused on delivering an extremely fast and more efficient path for commerce.