Select a page

Banking News

Mastercard Unveils Open Banking Payments Tools

Mastercard Unveils Open Banking Payments Tools

(23 March 2022 - Global) Mastercard has unveiled a pair of open banking tools designed to improve predictability and transparency in digital account-to-account payments for merchants.

Developed by Finicity, the open banking specialist acquired by Mastercard in 2020, the Payment Success Indicator and Payment Routing Optimizer use advanced data analytics and machine learning to make the payment experience safer and smarter.

Using real-time bank account information permissioned by the consumer, Payment Success Indicator lets the payment originator — a merchant, a bank, a digital wallet, or payment service providers — assess a consumer’s balance and historical behaviour risk patterns for each transaction.

The Payment Routing Optimizer interprets that score and recommends the optimal day and payment rail (such as Same Day ACH or Next Day ACH) taking into account cost, speed and risk.

For example, if Payment Success Indicator shows that the balance for a transaction is available today but may not be in the next few days, Payment Routing Optimizer will recommend using Same Day ACH.

The tools will be generally available later in the year.

Comment on this article


Your comments will not be published. Required fields are marked *


Please enter the word you see in the image below:


Subscribe to our mailing list

Sign up now to keep up-to-date with the latest
market news and insights in B2B banking.

* indicates required

For more information please read our Terms and Conditions and Privacy Statements.