Mastercard to provide Payment Processing Solutions to Airtel Payments Bank
February 16, 2017, Bangalore: Mastercard today said that it will provide Airtel Payments Bank, a fully outsourced payments processing platform to enable a range of payment services including switching, card management, along with support for reconciliation and dispute management processes. Mastercard and Airtel Payments bank have also launched India’s first online debit card along with a prepaid card, both accessible via the Myairtel App. The online debit card will enable Airtel Payments Bank customers to make digital payments at over 100,000 online merchants.
This processingplatform is supported by Mastercard’s state-of-the-art payment technologycentre at Pune. The centre is home to a globally-integrated team ofexperts constantly innovating to support latest technologies. The platformenables Mastercard to host and process payments for all leading networkbrands and will help Airtel Payments Bank achieve its vision of a digitaland paperless payments bank, while maintaining the highest global standards ofsafety and security.
Talkingabout the partnership, Shashi Arora, MD & CEO, Airtel Payments Bank said,“Mastercard’s globally proven expertise and technology solutions will enable usto provide innovative, secure and convenient online digital payments solutionsto our customers. We believe this partnership will contribute to our vision ofserving customers with a differentiated banking model that provides them asimple and convenient form of merchant payments”
PorushSingh, Country Corporate Officer, India and Division President, South Asia,Mastercard said,“We are delighted to partner with Airtel Payments Bank as their paymentsprocessor. This collaboration will enable Airtel Payments Bank to offer asafer, innovative and faster payments experience to its customers.” He furtheradded, “Through the technology centre in Pune, Mastercard is continuing to makethe investments needed in India to ensure we can offer the expertise andservices that support the latest industry breakthroughs.”
Mastercard’sglobal processing business is one set of many services that Mastercard offersalong with Enterprise Security Solutions, Mastercard Advisors, MastercardPayment Gateway Services, all of which help deliver additional value tocustomers.