Mastercard Enhances Open Banking Platform with Deposit and Bill Pay Solutions

Mastercard has integrated Deposit Switch and Bill Pay Switch into its Open Banking platform, enabling consumers to effortlessly update direct deposits and recurring bill payments when managing their digital accounts. These solutions, developed in collaboration with Atomic, a forerunner in payroll and merchant connectivity, offer a streamlined and secure account management experience. By streamlining payroll deposit switching and updating recurring bill payments, Mastercard aims to simplify digital banking processes and drive account primacy for financial institutions.

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