MasterCard Canada Press Section

Processing Technology

MasterCard's Global Technology and Operations headquarters in St. Louis serves as the global nerve centre for MasterCard® transactions worldwide, overseeing all transaction processing for the organization. Operating 24 x 7, the centre provides monitoring for credit and debit transactions worldwide. It serves as the software development hub for authorization, clearing and settlement applications, and also manages the technical infrastructure for all MasterCard systems.

In 2001, MasterCard's Operations Center moved into a new data facility and technology campus in suburban St. Louis, Missouri. It is the first commissioned building in MasterCard's history and the largest MasterCard facility in the world.


Banknet

MasterCard operates Banknet, one of the world's largest global telecommunications networks, which links all MasterCard members and MasterCard data processing centres into a single financial network. Banknet facilitates the routing of transactions for authorization from almost anywhere in the world. MasterCard's portion of an authorization transaction is performed in less than two seconds.


VPN

MasterCard's virtual private network (VPN), the first such network in the industry, updates Banknet to link new areas of the world to the global payments infrastructure. The transaction processing system was developed in a collaborative effort with AT&T. MasterCard's VPN brings a new, sophisticated payments technology to the financial services world. In fact, in 2002, the VPN reduced cumulative payment processing time by over 90 years.