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The Assessment Criteria

MasterCard welcomes additional risk-appropriate participants operating within the MasterCard Scheme. 

The Scheme Applicant should already have considered their ability to meet the technical and operational capabilities required to process payments. These capabilities can be accomplished by either working with a third-party processor in the payments industry or, alternatively, building these capabilities ‘in-house’. In either case, the Scheme Applicant needs to have access to the facilities, resources and capacity associated with issuing and acquiring on behalf of cardholders and merchants. This would include a physical operations center and supporting activities such as account management, card production, dispute resolution and customer service.

The Scheme Applicant needs to be able to connect to the MasterCard Worldwide Network. This will involve obtaining a MasterCard Interface Processor (MIP), installing the necessary telecommunications circuits, and arranging for testing between your host and the MasterCard test facility. MasterCard has a dedicated Customer Implementation Services (CIS) team which will work closely with the Scheme Applicant following the granting of any MasterCard license, to order and install the relevant equipment, coordinate the required testing, and complete all necessary integration testing prior to the commencement of operations in a production environment. 

As with any new Scheme Applicant, there must be a reasonable business case to support the Applicant entering the credit card issuing and/or acquiring business. 

 

Here are the application steps:

1.     The Applicant sends an email to Licensing-AP@mastercard.com indicating their interest in becoming a scheme participant. Mastercard will contact the Applicant to:

         a.     Confirm receipt of the Applicant’s interest,

         b.    Provide more information about Mastercard products, and

         c.     Outline the process, including the information that will need to be supplied in relation to the application.

2.     The Applicant will complete and submit the application and attach various documents supporting their application.

3.     Mastercard will review the Applicant’s submission within 30 days and may contact the Applicant for additional information or clarification.

4.     Mastercard will make a decision whether to grant the license and advise the Applicant via email within 30 days of all required application material.

5.     If the Applicant’s application for participation in the scheme is rejected, Mastercard will provide reasons in writing within one month after such rejection.

 

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