It is client-side prediction. An extension of this (which I believe all recent online games use) is server-side extrapolation, i.e. the server knows the current ping of the client very accurately, and when it receives an update, it forecasts the actual current position of the player from position, velocity and current acceleration. This forecasted value is sent to the clients rather than the actual received position.
Obviously, this isn't very useful if the server isn't aware of the physics and layout of the game (afaik, MTA servers are 'dumb', so they can't do this yet. Maybe never?). It also relies on an accurate (ping-aware) clock-sync between all clients and the server. Is this in place with MTA?
I think these techniques are what make other online games playable even with pings ~200, whereas MTA tends to be too warpy at any higher than ~50.