Mastercard originally declared the intent to buy Transfast on 8 March 2019. The acquisition aims to drive streamlined transparency and certainty in cross-border transactions, while enabling people and businesses to send and receive money beyond borders.
Transfast will enable Mastercard to continue servicing the needs of consumers and businesses as well as governments and merchants in cross-border transactions. It builds on Mastercard’s strategy to offer choice to its customers through the expansion of the Mastercard global network.
Increasingly, people and businesses across the globe want timely and cost-effective ways to pay and get paid. The acquisition allows Mastercard to service businesses and organisations across a wider variety of sectors with different needs. This includes businesses paying suppliers and employees across borders.
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