CSC (NYSE: CSC) today announced that MasterCard Worldwide is using CSC's CAMS II Card & Merchant System to power its newly launched debit and prepaid processing platform, MasterCard Integrated Processing Solutions (IPS).
The MasterCard platform provides a suite of debit and card issuer processing services that enables financial institutions to quickly expand their payments offerings across banking channels.
CAMS II, which is the functional and architectural foundation of MasterCard IPS, uses a high-performance transaction processing engine that scales to manage the industry's highest volumes. With the CAMS II rules-driven system, MasterCard IPS enables companies to rapidly design, deploy and operate innovative payment products and services that can be customized by demographics or geography. Specific IPS services include PIN and signature debit and prepaid transaction processing, fraud detection, rewards and loyalty programs, and ATM network management.
In addition to the software agreement, CSC is providing MasterCard with related professional services and has provided business domain expertise and program management, testing and Web development services during MasterCard's development of IPS.
"We chose CSC's leading payments management software over the alternatives for its deep functionality, scalability and flexibility," said Philip Tollison, senior vice president and group head, Integrated Processing Solutions, MasterCard Worldwide. "Leadership in the rapidly changing payments arena is what our financial institution customers expect of MasterCard. Only by basing our solutions on the best available technology can we succeed in providing a seamless user experience across the full spectrum of payments processing -- from card program design through call center servicing."
"MasterCard Worldwide joins leading Tier 1 debit and prepaid card issuers across the globe that have selected CAMS II for their mission-critical cards payments solutions," said Jim Cook, president of CSC's Financial Services Sector. "A leading source of payment industry technology and services for nearly 20 years, CSC is committed to providing integrated, highly scalable products and services across the cards and payments lifecycle to strengthen the success of new product introductions and help minimize risk."
MasterCard IPS is expected to be available in the United States in mid- 2008.
CSC's CAMS II in-house cards management system for high-volume issuers, acquirers and third-party processors worldwide offers 24/7 real-time support for credit, debit, prepaid/stored value, EMV chip, co-branded and private- label cards, as well as for merchant accounts and installment loans.