Mastercard/ACI Worldwide Recruited to Deliver Instant Payment Service to Camara de Compensacion Electronica

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Mastercard/ACI Worldwide Recruited to Deliver Instant Payment Service to Camara de Compensacion Electronica

By Luke Bellos

Cámara de Compensación Electrónica (CCE), a private institution for financial management services, has announced that it will be working with Mastercard and ACI Worldwide to enable Mastercard’s Instant Payment Service to Peru later this year. The project will mark the first collaboration between Mastercard and ACI after signing a strategic alliance back in September of 2020.

The collaboration will help modernize Peru’s digital payments infrastructure by combining ACI Enterprise Payments Platform with Mastercard’s Immediate Payments Service, using Peru’s real-time ISO 20022 message standard. The project will offer end-to-end 24/7 IT services, and allow internet and mobile transfers to take place in real time.

“Latin America is at the forefront of payments modernization, with Peru among several countries in the region planning to adopt real-time payments based on ISO 20022, with its potential high-value-add use cases.'' said Jeremy Wilmot,  Chief Product Officer at ACI Worldwide. “The combination of ACI and Mastercard technologies working together will accelerate adoption of real-time payments in Peru by supporting an easy onboarding path for the participants of the scheme.”

Real-time payment solutions are currently in high demand across the globe, with Mastercard providing real-time payment infrastructure for 12 of the top 50 GDP countries. ACI is supporting 18 real-time domestic schemes around the world, including companies like  Zelle and The Clearing House.

“Modernizing a country’s payments infrastructure is a major undertaking and we have a long, global track record of successfully deploying real-time payment systems,” said Carlos Pontes, Executive Vice President, New Payment Platforms, LAC, Mastercard. “We are excited to continue our work with CCE together with ACI to develop a powerful and flexible real-time payments solution. This infrastructure will provide a platform for innovation to support the country’s economy, transforming the payments landscape for both financial institutions and their customers.”

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Edited by Maurice Nagle

Editor, MSPToday

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