Early Warning’s clearXchange network facilitates person-to-person (P2P) payments between the customers of participant financial institutions, and enables these customers to send money to anyone with a US bank account. Customers can send payments from one bank account to another directly through their bank’s online or mobile banking experience. With the use of MasterCard Send, clearXchange will now enable US debit card users to send money to, and receive money from, customers of participant banks in real-time. The new capability will provide for a faster payments experience for more clearXchange users and expand clearXchange’s overall network reach.
In combination with Visa, clearXchange will be able to reach the majority of the 200 million debit cards issued by Visa in the US. The new debit card offering will expand clearXchange’s reach to debit card holders across the US and enable a faster payments experience for more users.
In addition, MasterCard Send is designed to align with the needs outlined in the Federal Reserve’s initiative focused on enhancing the speed, security and efficiency of the US Payments System. The service can reach nearly all 97% US debit card accounts, including non-MasterCard debit cards, and enables funds to be sent and received typically within seconds.
Early Warning has over 25 years of experience in financial technology.
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