Insights

Temenos Collaborates with Mastercard to Enhance Cross-Border Payment

Pat Crawley
Pat Crawley
21 Min Read
temenos-collaborates-with-mastercard-to-enhance-cross-border-payment

by Tareq Sikder

  • The collaboration aims to improve payment infrastructure for financial institutions and clients.
  • Mastercard Move enables secure and swift transfers via various disbursement options.

temenos and Mastercard

Temenos, a cloud banking platform, has announced a strategic collaboration with Mastercard, a global technology company in the payments industry. The partnership aims to accelerate the implementation and delivery of Mastercard Move, Mastercard’s comprehensive portfolio of money transfer capabilities, to banks and their customers worldwide.

Diverse Disbursement Methods

Mastercard Move empowers banks to securely and swiftly move money across borders. It offers a cost-effective range of options for routing and delivering funds through Mastercard’s extensive global network.

Mick Fennell, Business Line Director – Payments at Temenos

Mick Fennell, Business Line Director – Payments at Temenos, Source: LinkedIn

With nearly 10 billion endpoints spanning over 180 countries, recipients can choose from various disbursement methods, including cards, bank accounts, cash pick-up locations, and mobile wallets.

Mick Fennell, Business Line Director – Payments at Temenos, expressed excitement about the partnership: “By combining Mastercard Move’s capabilities with our flexible Payments Hub, integrated with our comprehensive account services, we are empowering banks to turn on a new cross-border distribution option with ease and provide their customers with seamless and secure international payment experiences.”

— Temenos (@Temenos) June 4, 2024

Payment Sources and Channels

Roberto Tittarelli, EVP New Payments Platform Europe at Mastercard

Roberto Tittarelli, EVP New Payments Platform Europe at Mastercard, Source: LinkedIn

By integrating Mastercard Move into the Temenos Payments Hub, Temenos customers gain seamless access to cross-border capabilities. This consolidation streamlines payment sources and channels, connecting multiple clearing and distribution networks and services.

The Temenos Payments Hub, built on a cloud-native, API-first architecture, efficiently manages multiple payment clearing rails, services, and payment types. Its intelligent routing ensures scalability to meet the evolving demands of the payments landscape.

Roberto Tittarelli, EVP New Payments Platform Europe at Mastercard, emphasized the benefits for banks: “With the integration of Mastercard Move’s money transfer solutions with Temenos’ payments capabilities, banks will benefit from a streamlined process to deploy, scale, and maintain ongoing interoperability for cross-border payments. This will in turn provide the banks’ customers with fast, secure, and efficient cross-border payments, making them the ultimate beneficiaries.”

Temenos, a cloud banking platform, has announced a strategic collaboration with Mastercard, a global technology company in the payments industry. The partnership aims to accelerate the implementation and delivery of Mastercard Move, Mastercard’s comprehensive portfolio of money transfer capabilities, to banks and their customers worldwide.

Diverse Disbursement Methods

Mastercard Move empowers banks to securely and swiftly move money across borders. It offers a cost-effective range of options for routing and delivering funds through Mastercard’s extensive global network.

Mick Fennell, Business Line Director – Payments at Temenos

Mick Fennell, Business Line Director – Payments at Temenos, Source: LinkedIn

With nearly 10 billion endpoints spanning over 180 countries, recipients can choose from various disbursement methods, including cards, bank accounts, cash pick-up locations, and mobile wallets.

Mick Fennell, Business Line Director – Payments at Temenos, expressed excitement about the partnership: “By combining Mastercard Move’s capabilities with our flexible Payments Hub, integrated with our comprehensive account services, we are empowering banks to turn on a new cross-border distribution option with ease and provide their customers with seamless and secure international payment experiences.”

— Temenos (@Temenos) June 4, 2024

Payment Sources and Channels

Roberto Tittarelli, EVP New Payments Platform Europe at Mastercard

Roberto Tittarelli, EVP New Payments Platform Europe at Mastercard, Source: LinkedIn

By integrating Mastercard Move into the Temenos Payments Hub, Temenos customers gain seamless access to cross-border capabilities. This consolidation streamlines payment sources and channels, connecting multiple clearing and distribution networks and services.

The Temenos Payments Hub, built on a cloud-native, API-first architecture, efficiently manages multiple payment clearing rails, services, and payment types. Its intelligent routing ensures scalability to meet the evolving demands of the payments landscape.

Roberto Tittarelli, EVP New Payments Platform Europe at Mastercard, emphasized the benefits for banks: “With the integration of Mastercard Move’s money transfer solutions with Temenos’ payments capabilities, banks will benefit from a streamlined process to deploy, scale, and maintain ongoing interoperability for cross-border payments. This will in turn provide the banks’ customers with fast, secure, and efficient cross-border payments, making them the ultimate beneficiaries.”

Tareq Sikder

  • 708 Articles
  • 4 Followers

A Forex technical analyst and writer who has been engaged in financial writing for 12 years.

Finance Magnates Daily Update

Get all the top financial news delivered straight to your inbox. Stay informed, stay ahead.

Keep Reading

More from the Author

FinTech

SuperApps: One App to Rule Them All?

SuperApps: One App to Rule Them All?

SuperApps: One App to Rule Them All?

SuperApps: One App to Rule Them All?

“SuperApps: One App to Rule Them All?” Catch what the experts think about the future of financial services.

“SuperApps: One App to Rule Them All?” Catch what the experts think about the future of financial services.

“SuperApps: One App to Rule Them All?” Catch what the experts think about the future of financial services.

“SuperApps: One App to Rule Them All?” Catch what the experts think about the future of financial services.

More Videos

  • Lebowa Capital’s Jimmy Moyaha at an FMLS:24 panel discussion

    Lebowa Capital’s Jimmy Moyaha at an FMLS:24 panel discussion

    Lebowa Capital’s Jimmy Moyaha at an FMLS:24 panel discussion

    Lebowa Capital’s Jimmy Moyaha at an FMLS:24 panel discussion

    Lebowa Capital’s Jimmy Moyaha at an FMLS:24 panel discussion

    Lebowa Capital’s Jimmy Moyaha at an FMLS:24 panel discussion

    Lebowa Capital’s Jimmy Moyaha at an FMLS:24 panel discussion explaining the impact of news on trading.

    Lebowa Capital’s Jimmy Moyaha at an FMLS:24 panel discussion explaining the impact of news on trading.

    Lebowa Capital’s Jimmy Moyaha at an FMLS:24 panel discussion explaining the impact of news on trading.

    Lebowa Capital’s Jimmy Moyaha at an FMLS:24 panel discussion explaining the impact of news on trading.

    Lebowa Capital’s Jimmy Moyaha at an FMLS:24 panel discussion explaining the impact of news on trading.

    Lebowa Capital’s Jimmy Moyaha at an FMLS:24 panel discussion explaining the impact of news on trading.

  • Doo Prime’s Fraser Nelson is explaining the challenges of liquidity in different markets.

    Doo Prime’s Fraser Nelson is explaining the challenges of liquidity in different markets.

    Doo Prime’s Fraser Nelson is explaining the challenges of liquidity in different markets.

    Doo Prime’s Fraser Nelson is explaining the challenges of liquidity in different markets.

    Doo Prime’s Fraser Nelson is explaining the challenges of liquidity in different markets.

    Doo Prime’s Fraser Nelson is explaining the challenges of liquidity in different markets.

    Doo Prime’s Fraser Nelson is explaining the challenges of liquidity in different markets while participating in a panel discussion on “How to Trade the News.”

    Doo Prime’s Fraser Nelson is explaining the challenges of liquidity in different markets while participating in a panel discussion on “How to Trade the News.”

    Doo Prime’s Fraser Nelson is explaining the challenges of liquidity in different markets while participating in a panel discussion on “How to Trade the News.”

    Doo Prime’s Fraser Nelson is explaining the challenges of liquidity in different markets while participating in a panel discussion on “How to Trade the News.”

    Doo Prime’s Fraser Nelson is explaining the challenges of liquidity in different markets while participating in a panel discussion on “How to Trade the News.”

    Doo Prime’s Fraser Nelson is explaining the challenges of liquidity in different markets while participating in a panel discussion on “How to Trade the News.”

  • FMLS:24 exhibition venue is crowded on the second day.

    FMLS:24 exhibition venue is crowded on the second day.

    FMLS:24 exhibition venue is crowded on the second day.

    FMLS:24 exhibition venue is crowded on the second day.

    FMLS:24 exhibition venue is crowded on the second day.

    FMLS:24 exhibition venue is crowded on the second day.

  • Panel Discussion on “Regulation, Trust, and the Future of Trading in Africa”

    Panel Discussion on “Regulation, Trust, and the Future of Trading in Africa”

    Panel Discussion on “Regulation, Trust, and the Future of Trading in Africa”

    Panel Discussion on “Regulation, Trust, and the Future of Trading in Africa”

    Panel Discussion on “Regulation, Trust, and the Future of Trading in Africa”

    Panel Discussion on “Regulation, Trust, and the Future of Trading in Africa”

    Experts discuss the topic “Regulation, Trust, and the Future of Trading in Africa” at FMLS:24

    Experts discuss the topic “Regulation, Trust, and the Future of Trading in Africa” at FMLS:24

    Experts discuss the topic “Regulation, Trust, and the Future of Trading in Africa” at FMLS:24

    Experts discuss the topic “Regulation, Trust, and the Future of Trading in Africa” at FMLS:24

    Experts discuss the topic “Regulation, Trust, and the Future of Trading in Africa” at FMLS:24

    Experts discuss the topic “Regulation, Trust, and the Future of Trading in Africa” at FMLS:24

You Might Also Like

The Future of B2B Payments: Will Blockchain Finally Solve Cross-Border Payment Inefficiencies?

Klarna CEO – AI to Tank Economy, Boasts of AI Hotline

eToro Shares Fall 12% After Debut Earnings Show Rising Costs and Compressed EBITDA Margins

eToro’s Q1 2025 Shows Strong User Growth and $14.8 B AUA Despite Profit Dip

eToro Trades at a Record Price: What Is Behind the Recent 10% Rally?

TAGGED:
Share This Article
Leave a comment

New Releases

- Advertisement -
Ad image

Trending Stories