AUSTIN, Texas and PURCHASE, N.Y., Feb. 4,
2021 /PRNewswire/ -- As the need for economic relief
and assistance continues to grow around the world, so do the
complexities and challenges in meeting those needs. Mastercard and
Oracle hope to change that through the launch of an automated,
end-to-end solution to help governments, non-profits and financial
services firms streamline the delivery of economic assistance
around the world.
The new integrated Oracle and Mastercard solution automates the
process of helping those in need – from determining program
eligibility to the accurate and timely distribution of funds, in
turn removing inefficiencies, reducing operational costs, and
enhancing fraud prevention.
The Mastercard and Oracle solution offers several key features
that meet the disbursement needs of many financial assistance
- Eligibility Determination: Sophisticated rules-driven
eligibility determination and payment calculations capabilities are
established by Oracle Service.
- Eligibility Verification: Interactive wizards, secure
digital uploads and video conferencing allow constituents to
confirm the documentation and steps required to verify eligibility,
and to prove that they meet requirements in the absence of
in-person interactions amid the pandemic.
- Application Process: A digital, rules-driven application
process for benefit programs is accessible anywhere, anytime.
- Online Access: Online and mobile self-service portals
deliver highly personalized and automated advice.
- Funds Access: Providing choice, flexibility and
convenience, recipients can select their preferred payment method,
whether through virtual or physical prepaid cards or to their debit
cards via Mastercard Send, which facilitates near real-time* push
to card payments backed by the network security of Mastercard's
In 2020, Los Angeles Mayor
Eric Garcetti launched the Angeleno
Card Program in partnership with the Mayor's Fund for Los Angeles to provide direct financial
assistance to families hit hardest by the pandemic. The City worked
with Mastercard and Oracle on a solution to streamline the
verification and eligibility of people applying for support, and in
three months, the program distributed more than 35,000 cards to
households across Los Angeles,
serving more than 100,000 people with over $36 million in direct financial assistance.
Following the success of the initial pilot, Mastercard and Oracle
are now working to replicate the solution in other cities across
the United States and around the
"We empathize with the complex challenges faced by governments
mobilizing to deliver relief in a timely fashion," said
Rob Tarkoff, executive vice
president, Oracle Advertising and Customer Experience. "By joining
forces with Mastercard, we are bringing together decades of public
sector expertise, Oracle's powerful, automated self-service,
eligibility and case management capabilities and Mastercard's
innovations in digital payments. The result is that it is now
easier than ever for governments to prioritize scarce funds and
bring immediate assistance to those who need it most."
"The pandemic has underscored the need for governments and
organizations to streamline and digitize the disbursement process
to ensure that qualifying residents receive relief payments quickly
and securely," said Miguel Gamino,
executive vice president, Enterprise Partnerships and Head of
Global Cities at Mastercard. "By pairing our secure and innovative
solutions with Oracle, we can enable economic assistance programs
at scale and deliver payment solutions that are both cost-effective
and fast, in turn supporting those in need."
*Actual posting times for approved transactions will depend
on the receiving financial institution.
Oracle offers suites of integrated
applications plus secure, autonomous infrastructure in the Oracle
Cloud. For more information about Oracle (NYSE: ORCL), please
visit us at www.oracle.com.
Mastercard is a global technology
company in the payments industry. Our mission is to connect and
power an inclusive, digital economy that benefits everyone,
everywhere by making transactions safe, simple, smart and
accessible. Using secure data and networks, partnerships and
passion, our innovations and solutions help individuals, financial
institutions, governments and businesses realize their greatest
potential. Our decency quotient, or DQ, drives our culture and
everything we do inside and outside of our company. With
connections across more than 210 countries and territories, we are
building a sustainable world that unlocks priceless possibilities
Oracle and Java are registered trademarks
of Oracle and/or its affiliates.
View original content to download