To provide financial institutions and payment service providers with flexible access to the UK’s real-time payments infrastructure, it is reported that Mastercard has launched PayPort+; its next-generation real-time payments gateway service.
Powered by Vocalink and Form3 – a technology partner selected by Mastercard for the implementation of its latest platform – the PayPort+ solution combines the benefits of cloud-native technology with the highest levels of security, availability, and operational services standards.
Speaking on the launch, Vocalink CEO Gregor Dobbie comments: “Now more than ever, people and businesses need to be able to rely on the payments network for speed, convenience, and security – not just in the UK but around the world.
“The launch of our next generation PayPort+ service, which we built in collaboration with Form3, is a part of our multi-rail strategy to enhance payment flows for our customers and modernise payments for everyone.”
PayPort was launched in 2016 to offer financial institutions, large and small, connectivity into the UK Faster Payments network. Through this next generation of PayPort+ these institutions will benefit from flexible connectivity options, including MQ, Restful APIs, and Microservices.
PayPort+ is currently live with two UK financial institutions, including Nationwide Building Society, processing real-time payments into the UK Faster Payment service.
Michael Mueller, Chief Executive Officer at Form3 added: “We are delighted to see this first service delivered as a result of our partnership with Mastercard. We look forward to supporting more financial institutions as we roll out the service.”