Sri Lanka-based Bank of Ceylon (BOC) is expanding its relationship with Mastercard by adopting Mastercard Integrated, a configurable payments processing platform introduced last year in Asia enabling card issuers and acquirers to tailor the features of a broad range of payment products.
BOC will add Mastercard Integrated to its processing services, gaining new card and account management tools, customer service support, data and reporting solutions and fraud and risk-management for payments made with any branded product, Mastercard said in a Feb. 14 press release.
Mastercard rolled out Mastercard Integrated last year, aiming to go beyond its traditional network-branded switching services and begin supporting all payment brands with fully integrated hosted processing services.
The new platform powers Mastercard Payment Transaction Services, enabling users to make real-time changes to product features, fees and authentication rules, cutting time to market and reducing the need for core system changes, Mastercard said when announcing the service.
“Giving a significant boost to our payment processing operations, Mastercard Integrated will allow us to accelerate the pace at which we bring secure digital payment solutions to the market,” said MJP Salgado, BOC’s deputy general manager of product and banking development, in the release.