New Mastercard Digital Platform Offers Holistic Management for Prepaid Accounts
December 12 2017 - 9:00AM
Business Wire
Mastercard Assemble kicks off with a product
geared toward the money management needs of millennials
In our fast-paced lives, each one of us is juggling a lot –
careers, relationships, social events, families, the list is
endless. So why should we stress about banking and trying to manage
multiple apps? Why not have one centralized, secure account to
cover all of our banking needs?
Mastercard has a new platform and product to do just that:
- Assemble is a prepaid innovation hub
that issuers and partners will offer to customers with holistic
money management capabilities including checking balances,
budgeting, setting savings goals and making near-real time payments
to almost anyone in the U.S. with a valid debit card via a P2P
service powered by Mastercard Send.
- The first product available from
Assemble is geared toward millennials and, along with the features
above, offers consumers a simple, smart and safe way to manage
money through a digital prepaid account, a mobile app and a payment
card (virtual or physical).
“Prepaid is much more than just a way to safely store and use
funds. It is a foundation to create new possibilities for
consumers,” said Tom Cronin, senior vice president, Global Prepaid
Product Development and Innovation, Mastercard. “This technology
enables our partners to deliver best-in-class digital experiences
today, as we work to address additional segments such as gig
economy workers and underserved consumers and micro
businesses.”
Mastercard Assemble not only bundles assets and services
together but also enables these digital prepaid solutions to
promote innovation, increase the speed to market, and provide
customers with seamless and secure usage. Issuers and partners can
choose to deploy a white-label version of the solution or to
integrate specific functions into their current user interfaces
through APIs.
While Mastercard Assemble for Millennials will be the first
launch, the company is currently developing additional use cases to
support prepaid programs for additional segments such as
underserved consumers and microbusinesses, and the gig economy.
Mastercard Assemble for Millennials is available now in the United
States with other markets being targeted within the next year.
About Mastercard
Mastercard (NYSE:MA), www.mastercard.com, is a technology
company in the global payments industry. We operate 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. Follow us on Twitter
@MastercardNews, join the discussion on the Beyond the Transaction
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Bureau.
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version on businesswire.com: http://www.businesswire.com/news/home/20171212005369/en/
Mastercard CommunicationsBeth Kitchener, +1
914-249-2058beth.kitchener@mastercard.com
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