Mastercard Launches Cloud Edge to Accelerate Payment Innovation, Onboarding in Asia Pacific

Mastercard Incorporated (NYSE:MA) is one of the best stocks to buy for beginners now. On June 16, Mastercard announced the launch of Mastercard Cloud Edge, which is a new cloud-based connectivity solution designed to accelerate customer onboarding and streamline the launch of payment tools. The solution is developed in collaboration with leading cloud providers, such as AWS, and will enable Asia Pacific banks and fintechs to onboard to Mastercard’s network up to four times faster.

Mastercard Cloud Edge addresses the rapid growth of fintechs globally, which are projected to expand ~three times faster than the overall banking industry through 2028, largely driven by emerging markets in Asia Pacific. Cloud computing is a key accelerator of this growth and is expected to account for over $1 trillion in value across the world’s top 500 companies. Specifically in Asia Pacific, cloud computing is poised to drive the fintech market to a projected value of ~$311 billion by 2029.

A woman using a payment terminal at the checkout of a store showing payment products and solutions.

Cloud Edge provides seamless, private connectivity to Mastercard’s network across Asia Pacific and frees customers from reliance on a single IT infrastructure or on-premises solutions. It accelerates time to market for fintech solutions and ensures regulatory compliance with local data storage and processing requirements. Furthermore, it offers direct access to modern payment technology, including Transaction APIs built on ISO 20022-standardized payloads.

Mastercard Incorporated (NYSE:MA) is a technology company that provides transaction processing and other payment-related products and services in the US and internationally.

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Disclosure: None. This article is originally published at Insider Monkey.