Mastercard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. The company operates the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. Mastercard products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone.
Mastercard has recently added to its network capabilities a suite of on behalf services that facilitate its customers offering instalment loans on existing cards.
“We were looking for a calculation engine that we could seamlessly integrate within our digitally enabled services, that would support any APR calculation formula in the world, and provide extreme flexibility to our customers to tailor their pricing configurations. On top of total accuracy and regulatory compliance, we also required superior speed and massive capacity, so that real-time calculations would not slow down at all authorizations. The Sherman Calculation engine met these requirements, and the support provided by the Sherman team greatly facilitated the integration.”
- Dominique Steenbeek, Director - Global Lead Instalment Payment Services, Mastercard
We could not be more pleased that Mastercard has chosen the SCEX to be the calculation heart of this new product. Bringing the SCEX to the international marketplace is something we’ve had on our radar for years. Mastercard Installment Payments Services are the perfect vehicle to make this vision a reality.
If you are looking for a partner to provide you with proven compliance expertise (whether it is in the United States or elsewhere), please contact us. We are confident you will find partnering with Sherman & Associates is the smart way to go.