Global card network MasterCard and leading international payment processor First Data announced a partnership that will see the two organizations created a unified solution for First Data’s FirstVision platform powered by VisionPLUS. The new payments solution will be available to banking clients and customers in the Asia Pacific region.
MasterCard will be responsible for providing its inControl platform, which provides a secure service to both corporate and consumer cardholders to manage spending by creating setting account limits and managing how consumers use their card online.
“Our partnership with First Data is a strategic initiative that gives their clients access to an innovative payments solution,” said Marc Mathenz, senior vice president and head of First Data’s Asia Pacific. “ We strongly believe that the inControl platform will not only provide more secure transactions for consumers, but will also help them manage their spending and budgeting more effectively.”
With e-commerce in the Asian-Pacific region expected to exceed spending in North America, solutions like the one announced between MasterCard and First Data, will be critical to ensure that both consumers and corporate customers feel secure when making payments online. With this insured, it is likely that e-commerce in Asia will continue to grow robustly and remain a global leader in the space.
Overview by Tristan Hugo-Webb, Associate Director, International Advisory Services
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