Mastercard has announced APAC Pacific banks and fintechs can onboard to its network up to four times faster and streamline the launch of payment tools via Mastercard Cloud Edge, its cloud-based connectivity solution, offered in collaboration with cloud providers – including AWS.
Fintechs worldwide are expected to grow approximately three times faster than the overall banking industry through 2028, powered largely by emerging markets growth in APAC, where cloud computing, integral for fintech growth, and is set to drive the market to a projected value of nearly $311 billion by 2029.
“With Cloud Edge, Mastercard brings pioneering innovations in cloud and payments to Asia Pacific banks, financial institutions and cloud-native organisations – meeting forward-thinking customers where they want to be,” said Sandeep Malhotra, Executive Vice President, Core Payments, Asia Pacific, Mastercard.
As an additional onboarding option, Mastercard Cloud Edge provides customers, including issuers, acquirers, network enablement partners and payment processors, with private connectivity to Mastercard, lower capital expenditure and maintenance costs by avoiding physical data center overheads and direct access to modern payment technology.
“The AWS Regions across Asia Pacific offer Mastercard extensive connectivity and secure cloud services. Together with Mastercard’s global footprint, this provides organisations in the region with payment network access at low latency, ensuring seamless operations as well as compliance with regional data residency regulations,” said Scott Mullins, Managing Director, Financial Services, AWS.
Mastercard Cloud Edge is available in APAC markets including India, Australia, Singapore, Hong Kong and Thailand.
