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MasterCard Introduces IPS - New Debit Processing Platform

MasterCard Worldwide has announced a new debit processing platform,MasterCard Integrated Processing Solutions (IPS), calling it 'a powerful MasterCard-engineered debit processing platform" that "offers financial institutions a complete processing solution to help create differentiated products and services, enabling them to quickly expand their payments portfolios across banking channels.'

MasterCard held a conference call this morning to discuss IPS. A presentation icon_PDF_small.gif is also available.

Through a single connection, MasterCard IPS provides banks with a suite of branded debit network and card issuer processing services including PIN, signature, and ATM driving. The platform also introduces a user-friendly customer interface, MasterCard Portfolio Viewer, which greatly simplifies the process for banks to package cardholder data into customized reports. Banks can quickly and easily change the Portfolio Viewer configuration and report parameters with no hard coding.

Security Service Federal Credit Union (Security Service FCU) will be the first MasterCard customer to implement MasterCard IPS, reaffirming its commitment to MasterCard debit offerings with an exclusive agreement. Beginning in the second quarter of 2008, MasterCard will provide Security Service FCU with complete branded debit network and issuer processing.

"MasterCard IPS offers the debit payment innovations we need to differentiate ourselves and grow our business in a competitive financial services market," said David Reynolds, president and CEO, Security Service FCU. "As consumers increasingly embrace electronic payments, aligning with MasterCard ensures that we are well positioned to quickly respond to member demands by offering the most advanced debit products and services."

"Using MasterCard IPS is like moving from the highway to the runway," said Tim Murphy, president, U.S. Region, MasterCard Worldwide. "The platform streamlines the launch of next-generation payment systems to help our customers' businesses take off. With traditional cobbled-together legacy systems, banks may achieve their business goals eventually, but that path is time-consuming and unreliable. MasterCard IPS has been built as an integrated solution from the ground up with the most advanced software, so it is unencumbered by the constraints of legacy systems."

MasterCard IPS simplifies product differentiation by using a parameter- based system to rapidly design and deploy innovative payment products and services that can be specifically customized at the local, regional and national levels yet still operate within a secure global framework. Banks can streamline the rollout process and save considerable time and resources by providing data for the platform's pre-determined parameters to customize a host of product or service options.

MasterCard IPS also helps banks realize greater value from next-generation automated teller machine (ATM) networks by transforming them into advanced distribution channels that integrate with other channels. They can now provide greater options to leverage products, transactions, marketing, promotions and cardholder preferences. For example, a bank wishing to increase debit transaction volume could direct a promotion to frequent ATM users to encourage their use of debit cards for purchases.

MasterCard IPS, together with the sophisticated MasterCard data warehouse, delivers aggregated data across accounts and product lines. It not only provides a 360-degree view of information but also has the flexibility and intelligence to supply customizable geographic and demographic data to its financial institution customers.

"With MasterCard IPS, we have eliminated the need for banks to dedicate significant time and resources to learning and managing payment portfolio interface systems," said Rob Reeg, MasterCard chief technology officer and interim president of MasterCard Global Technology and Operations. "Portfolio Viewer is a substantial advancement for the industry because it is intuitive and easy for users of any skill level, and it provides banks with an unprecedented ability to customize the processing platform interface while freeing them from interaction with the back-end system mechanics."

MasterCard IPS is expected to be available in the United States in mid-2008, offering ATM terminal driving, debit issuing processing and branded debit network functionality as well as expanded rewards capabilities. In developing the platform, MasterCard integrated into its global infrastructure the most advanced in-production payments software from ACI Worldwide and CAMS II Card & Merchant System from Computer Sciences Corporation.

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Another weak attempt by MasterCard to compete when they know that Visa does it best. The banks know it too.

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