One of the first new offerings on this platform is Mastercard Send, a push payments service that powers a streamlined way to send money domestically and cross-border. With Mastercard Send, partners can disburse funds to US debit or reloadable prepaid cards for immediate payment of insurance claims, healthcare claims, government aid, tax refunds, gig economy workers and more.
Meta’s expertise as an issuer of payments services coupled with card-based payments can provide new opportunities in addition to prepaid card and ACH services. MetaBank has issued more than a billion cards in the US, in partnership with banks, programme managers, payments providers and other businesses, and offers a payments services solution that includes ACH origination.
MetaBank is a wholly-owned subsidiary of Meta Financial Group. Founded in 1954, Meta operates in several different financial sectors: payments, commercial finance, tax services, community banking and consumer lending.
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