Mastercard pushes payments to the edge

The financial services company has overhauled its global payments atop public cloud and edge computing systems in pursuit of revenue growth in an API-driven, platform-fueled world.

Mastercard pushes payments to the edge
Getty Images

A global payment network is Mastercard’s most prized asset, facilitating 300 million financial transactions worldwide each day in a complex system protected by machine learning (ML) and other cutting-edge security technologies. The financial services company is now upgrading that system, turning away from on-premises solutions to instead embrace a blend of cloud and edge computing technologies, a combination experts say is ripe for growth. 

When complete, the modernized network, Next Edge, will be available anywhere the company’s customers wish to conduct business, according to Ed McLaughlin, Mastercard’s president of operations and technology.

The initiative will drive revenue growth by fueling faster product delivery and integration, as well as new customer experiences. It will also improve operational efficiency by onboarding new customers in mere weeks, McLaughlin says of the network, which makes decisions based on regulatory requirements in milliseconds.

Prior to Next Edge, Mastercard made its payments network available via an appliance installed in customers’ datacenters, which worked well when the world was fueled primarily by card-based transactions. But with more merchants and fintechs embracing digital payment services, including mobile ecommerce, account-to-account, and open banking, it behooves Mastercard to meet them in the cloud, a middle ground where companies tap APIs to provide new connections between platforms.

Differentiation at the edge

To continue reading this article register now

Watch out for these 6 IT management traps to avoid