Mastercard has launched a service enabling banks and fintechs in Asia Pacific to onboard customers up to four times faster.

The new solution, Mastercard Cloud Edge, is a cloud-based connectivity platform developed in partnership with providers including Amazon Web Services (AWS). The payment company states the technology will provide customers with greater flexibility, choice and access to payment tools.

According to Mastercard, the platform helps fintechs handle demand surges during peak periods like national holidays or sales events without requiring additional physical infrastructure. The company also highlighted how Cloud Edge reduces time to market while maintaining compliance with local data storage and processing regulations, enabling faster development of fintech solutions.

The service provides direct access to modern payment technologies, including transaction APIs built on ISO 20022-standardised payloads.

Mastercard cited a McKinsey study projecting that fintechs globally will grow about three times faster than traditional banking through 2028, with Asia Pacific's emerging markets driving much of this expansion. Cloud computing is expected to contribute over $1 trillion in value among the world's top 500 companies during this period.

In Asia Pacific specifically, cloud technology is crucial for fintech development, with the market forecast to reach nearly $311 billion by 2029.

Sandeep Malhotra, executive vice president, core payments, Asia Pacific at Mastercard, said: "With Cloud Edge, Mastercard brings pioneering innovations in cloud and payments to Asia Pacific banks, financial institutions and cloud-native organisations. Cloud Edge reinforces our commitment to resiliency, security and redundancy while delivering cost efficiency, greater choice and flexibility."

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