MasterCard plans global IP payment network

MasterCard International Inc. has announced plans to build a global payment processing system based on its IP network. The Global Clearing Management System (GCMS) will link the company's 20,000 member banks to retailers and other merchants. MasterCard says the most sweeping technology change in its history will enable financial institutions to customize services and data handling, capture more information online, and provide direct links for processing charge authorizations and clearing messages. It is scheduled for launch in Q3.

The source article is at computerworld.com.