Under the arrangement, customers can link eligible debit and credit accounts or cards to a primary credential and set rules for how transactions should be funded. These rules can be based on factors such as transaction amount, merchant category or payment channel.
This means a customer could, for instance, set travel-related purchases to be charged to a particular linked card, while everyday transactions are routed to a debit account. The selected funding source would be determined automatically at checkout based on the preferences set by the customer.
For SMEs, the system is intended to help separate business and personal spending while allowing different payment relationships to be managed through one credential. Customers can also change their routing preferences as their spending or financial requirements change.
The pilot also introduces a way to manage credit usage through the same credential. A customer could choose to route routine purchases through a debit account while keeping a linked credit line for larger planned expenses or emergencies.
For banks, the model could allow additional payment products or credit lines to be linked to an existing credential, reducing the need for customers to manage multiple physical cards. Mastercard said the issuing bank retains control over transaction routing, customer experience and related data through its backend systems.
The pilot is being rolled out with eligible CUB customers. Mastercard said CUB is among the first banks globally to explore combining consumer and commercial payment relationships through the One Credential platform.Gautam Aggarwal, President, India & South Asia, Mastercard, said the solution is aimed at giving customers greater control over how different payment options are used.
Vijay Anandh, MD & CEO, City Union Bank, said the pilot would allow the bank to offer multiple products and benefits through a single payment relationship.
