How MasterCard changes its Worldwide Network

MasterCard Worldwide has introduced a number of enhancements to its Worldwide Network which are meant to allow partnering financial institutions and merchants to improve the shopping experience for cardholders; identify new business opportunities; and improve operational efficiencies.

“The MasterCard Worldwide Network provides a globally integrated infrastructure that is uniquely adaptable to the needs of customers and merchants with both global and local footprints,” says Rob Reeg, president, MasterCard Global Technology and Operations. “These network-based solutions are designed to provide financial institutions and merchant partners with locally-customized opportunities to realize operational efficiencies, reduce fraud-related costs, develop differentiated products and tap into new revenue streams that enhance their profitability and improve their cardholders’ payment experiences.”

Among other things MasterCard will introduce the following global enhancements:

• Authorization Response Time Reduction helps to increase approval rates and improve the cardholder experience at the point of sale by reducing the time it takes to authorize a transaction.
• Authorization Message Expansion enables additional transaction information and intelligence to be exchanged during authorization, allowing financial institutions to support new business opportunities.