Dubbed MasterCard MoneySend, the global card-to-card money transfer service will expand the usability of MasterCard products and global payments network by providing its customers with money transfer platform enabling person-to-person payments and cross-border remittances.
MasterCard MoneySend will support cardholder remittance payments enabling cardholders to send money that is quickly accessible to the recipient. The money transfer service aims to provide financial institutions with the infrastructure enabling all transactions to be processed through cardholders’ issuing banks and the MasterCard global payment network.
Currently, MasterCard MoneySend supports money transfer services in 17 countries. The global availability of the MoneySend card-to-card money transfer service will build upon the company’s ongoing initiatives utilizing the key insights learned in these markets to deliver a viable solution to financial institutions globally.
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