13 August 2024, London – Paymentology, the leading global issuer-processor, today announces its connection to Mastercard leveraging Mastercard’s Cloud Edge, further advancing its comprehensive cloud-first strategy to deliver next-generation payment solutions across the globe.
The new certification aligns seamlessly with Paymentology’s cloud-first approach. Mastercard’s Cloud Edge allows customers to connect to Mastercard from cloud providers of their choice and supports multiple hybrid connectivity patterns. It is designed to help fintechs, issuer banks, and other partners to efficiently and securely launch new payment services and solutions.
Paymentology is the first customer of Mastercard to simultaneously connect from multiple public cloud providers through Mastercard’s Cloud Edge. As a result, Paymentology can leverage the full flexibility that Cloud Edge offers, and better serve its diverse clientele, including fintech, banking, telcos and other sectors, by providing access to Mastercard products and services through a single connection.
The announcement comes at a time when fintechs, banks, and telcos continue to expand their global reach and operate across borders, but often encounter issues relating to the need for specialised hardware, physical connections and regional compliance requirements that can often cause delays, impeding customer adoption.
Mastercard’s Cloud Edge supports Paymentology’s expansion of its processing services, providing clients with enhanced reliability and scalability for card programme deployments. The collaboration simplifies transactions, and ensures robust data security and performance. As a result, service deployment is accelerated, customer adoption delays are minimised, and a more reliable, scalable, and secure platform is delivered.
Merusha Naidu, Global Head of Partnerships at Paymentology, commented: “Paymentology is leading the way in payments innovation, with our next-generation platform and multi-cloud network, making it easy to launch any type of card programme. This advancement with our long-standing partner, Mastercard, reinforces our commitment to a cloud-first approach and our positioning as one of the first issuer-processors capable of operating entirely in the cloud. All our clients and partners will benefit from our universal cloud connectivity, providing greater flexibility for our products and services.”
Christian Rau, SVP, Crypto and Fintech Enablement, Mastercard Europe says: "As more organisations adopt digital payment services, Mastercard and its partners continue to prioritise accessible, secure, and innovative solutions. We’re excited to be building upon our existing relationship with Paymentology, as they leverage the benefits of Mastercard’s Cloud Edge to further enhance and streamline their cloud-first, payments issuing platform.”
The shift towards edge computing marks a critical evolution in cloud infrastructure for payments. This cloud-forwardness, marked by Paymentology’s announcement, is an essential example of preparing for upcoming advancements to 5G and IoT, where rapid data and transaction processing capabilities are paramount for seamless operational efficiency and enhanced customer experiences.