IPS

Mastercard Instant Payment Service (IPS) is a global real-time clearing and settlement infrastructure platform for bank account-based payments. The service is designed as a managed infrastructure solution that enables financial institutions and payment service providers to build and operate instant payment systems that process transactions 24/7/365 with immediate availability of funds. IPS powers faster payment schemes across multiple jurisdictions worldwide, supporting over 100 countries with instant payment infrastructure. The platform is built on Mastercard-Vocalink technology and offers features including multi-currency support, real-time liquidity management, cloud-based scalability across multiple data centers, and compliance with global messaging standards for interoperability. IPS has been deployed in various markets including Thailand, Peru, Singapore, and other countries to modernize their national payment infrastructures. The service supports both domestic instant payments and cross-border payment linkages between different national instant payment systems. While IPS is a global infrastructure product offered by Mastercard worldwide, it is not a standalone fintech company but rather an enterprise payment infrastructure service provided by Mastercard to financial institutions, central banks, and payment system operators. In the Mexican context, the country operates its own instant payment system called CoDi through the SPEI network managed by Banco de México, though adoption has been limited. Mastercard has been active in Mexico's fintech ecosystem through partnerships with various fintech companies and through its subsidiary Arcus, which was divested to Tapi in 2025. IPS itself is an infrastructure technology product accessible through Mastercard's developer platform rather than an independent Mexican fintech entity.