South African merchants will soon benefit from same-day payouts and more control over their funds
Instant and secure paymentscan act as a multiplier to help businesses and economies thrive and grow. To further Mastercard's vision of bringing immediacy to card payments, the company today announced that South Africa will be the first market in the world to benefit from the security and speed of immediate Mastercard card payments. Through product innovations, enhancements to its network and strategic partnerships, Mastercard will enable acquiring banks to process real-time card payments.
For the first time, all merchants in South Africa who accept Mastercard payments will receive faster payouts, empowering businesses with better cashflow management and faster funds availability. This, in turn, provides merchants with more visibility and control over their funds, frees up capital and increases the velocity of money in the economy, driving growth and innovation. In the future, Mastercard will enable issuing banks in South Africa – and around the globe – to process real-time card payments, empowering consumers with increased transparency, faster payments, and real-time insights into their funds.
