Credit card company expands faster payments presence

Mastercard Wednesday announced its majority purchase of a Denmark company that features an electronic-billing platform and clearing and instant-payment services. Earlier this week, the Federal Reserve also announced that it will move forward with its development of a real-time gross settlement service.

While NAFCU has pressed the central bank to play an operational role in efforts to modernize the nation’s payment system, the association also supports private sector solutions and interoperability between the Federal Reserve’s system and private operators.

In its announcement, Mastercard said the acquisition of Nets “advances [its] strategy to capitalize on the vast and fast-growing global Real-Time Payments opportunity” and further strengthens the company’s existing capabilities within the technology.

 

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