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May 26, 2015

MasterCard Send claims to take the pain out of money transfers

The service is currently live in the US.

By CBR Staff Writer

MasterCard has introduced a new service which allows customers to quickly and securely transfer funds digitally.

Funds can be transferred domestically or internationally with the help of the MasterCard Send sevice, which is open tobusinesses, merchants, governments, non-profits and several others.

The service, which is currently live in the US, will allow disbursements and person-to-person payments to and from any US debit card account, including non-MasterCard debit cards.

It uses the MasterCard network, paired with key capabilities from other personal payment platforms, including HomeSend.

Berkshire Hathaway Travel Protection and FreeShipping.com are among the first firms integrating MasterCard Send to make money transfers.

MasterCard chief emerging payments officer Ed McLaughlin said: "Through MasterCard Send, we have enabled a breakthrough solution that takes the pain out of the system, provides faster clearing of payments, and delivers a better user experience for senders and receivers alike.

"MasterCard Send is addressing a real need that exists in today’s digital world to enable consumers, businesses, governments and more to have a safe, simple and secure way to transfer and receive funds quickly."

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