Mastercard announced that South Africa will be the first market worldwide to benefit from immediate Mastercard card payments. This innovation will enable acquiring banks to process real-time card payments, providing faster payouts for all merchants accepting Mastercard.
The initiative aims to empower businesses with improved cash flow management and quicker access to funds, thereby increasing the velocity of money within the economy. This aligns with the South African Reserve Bank’s National Payments System Strategy Vision 2025.
Mastercard is partnering with ACI Worldwide to facilitate the adoption of these real-time transaction processing standards. The company plans to roll out new standards and solutions to accelerate processing speed for card transactions, including same-day payouts for South African merchants.
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