Collaboration enables banks and credit unions to better serve the payment needs of consumers and small businesses
Jack Henry has strengthened its partnership with Mastercard by integrating Mastercard Move into Jack Henry Rapid Transfers™, a cloud-native service designed to enable near-real time* money movement. This collaboration will empower financial institutions with faster, more seamless digital payments, supporting use cases such as account funding and money transfers across the U.S. via the Mastercard network.
Revolutionizing Money Transfers with Mastercard Move
Mastercard Move provides banks, non-bank financial institutions, and direct disbursers with fast, secure money transfer capabilities. Through this integration, funds can be delivered securely and with near-real time* availability to eligible cards, bank accounts, and digital wallets worldwide. This initiative builds upon Jack Henry’s existing alliance with Moov, aimed at equipping banks and credit unions with a robust digital payments infrastructure for consumers and small to medium-sized businesses.
The expanded integration of Mastercard Move further strengthens the long-standing partnership between Mastercard and Jack Henry. Both companies continue to drive innovation in open banking, advanced fraud protection, and marketing solutions to support financial institutions in delivering exceptional digital experiences.
Also Read: TEOCO Launches SmartSuite™ for Telco Cost Management
Commitment to Modernizing Digital Payments
“Integrating Mastercard Move into Jack Henry Rapid Transfers is an important step in our efforts to modernize digital payments,” said Greg Adelson, President and CEO of Jack Henry. “We are committed to empowering banks and credit unions with innovative technologies that enable them to serve at the center of their relationships with accountholders.”
Jack Henry Rapid Transfers, available exclusively through financial institutions, will provide significant benefits, including the ability to seamlessly transfer funds between accounts at different financial institutions without unnecessary delays. The service will initially launch on the Banno Digital Platform™, Jack Henry’s rapidly growing digital banking solution, which serves 1,000 banks and credit unions and over 13.2 million users.
Enhancing Access to the Digital Economy
“This next phase in our ongoing collaboration is designed to help Jack Henry’s customers enable seamless and secure money movement,” said Chiro Aikat, Co-President, United States, Mastercard. “The near-real time availability of funds will also lend itself to account opening capabilities, as well as offer a variety of payment options for Jack Henry’s commercial customers. Together, we’re creating a two-way street, allowing customers to both send and receive money – ultimately facilitating greater access to the digital economy.”*
As digital transformation continues to reshape the financial landscape, Jack Henry and Mastercard remain committed to providing cutting-edge payment solutions that drive efficiency, security, and accessibility in banking.