CCE is working together with Mastercard and ACI Worldwide to improve digital payments infrastructure in Peru
Cámara de Compensación Electrónica (CCE) is set to leverage the enterprise payments platform from ACI Worldwide to enhance access to Mastercard’s instant payment service for financial institutions.
CCE is a Peru-based private institution that manages the clearing services for financial institutions’ transfers, direct debits, credit instalments, checks and bills of exchange, and is the first customer for the Mastercard and ACI collaboration.
Mastercard’s instant payment service is a new real-time payment managed service, with industry testing planned for later this year, in Peru.
Mastercard and ACI Worldwide have initially teamed up in September 2020 to provide a broad range of real-time payment solutions.
The alliance provides infrastructure, payments localisation and access solutions to central banks, scheme operators, financial institutions, payment service providers, and others.
CCE CEO Martín Santa María said: “The volume of immediate transfers that we process each month has more than quadrupled. In January 2020, we processed 580,000, a number that increased to more than 2.8 million per month by January 2021.
“Thanks to the Mastercard and ACI Worldwide partnership, we can exceed this growth, as both consumer and business demand for real-time payments rapidly increases across the country.”
CCE has introduced its real-time payments scheme, dubbed Immediate Interbank Transfers (IIT), in 2016 and is working together with Mastercard to improve digital payments infrastructure in Peru.
IIT service operates 24/7 and enables transfers performed using the internet or mobile banking and are processed in real-time, said Mastercard.
For the collaboration with CCE, ACI will combine its payments access and real-time message transformation technology with Mastercard’s Immediate Payments Service.
Also, the central infrastructure will be deployed as a managed service using ISO 20022 message standard and delivers superior end-to-end offering for CCE.
Mastercard LAC new payment platforms executive vice president Carlos Pontes said: “Modernising a country’s payments infrastructure is a major undertaking and we have a long, global track record of successfully deploying real-time payment systems.
“We are excited to continue our work with CCE together with ACI to develop a powerful and flexible real-time payments solution.
“This infrastructure will provide a platform for innovation to support the country’s economy, transforming the payments landscape for both financial institutions and their customers.”