MasterCard Worldwide said that starting in 2010, MasterCard customer financial institutions will have the capability to offer MasterCard cardholders money transfers from any MasterCard or Maestro card to any other MasterCard or Maestro card.
The MasterCard MoneySend platform offers the network infrastructure for the development of global marketplace enabling value, convenience and reliability for global money transfer. Currently, MasterCard MoneySend supports money transfer services in 17 countries.
New and existing MasterCard financial institutions can participate and offer the money transfer platform to their MasterCard cardholders through their online banking websites. The MoneySend platform offers participating customer financial institutions real-time authorization resulting in faster disbursement of funds.
Joshua Peirez, group executive of innovative platforms at MasterCard Worldwide, said: “We are focused on developing convenient and secure solutions for the day-to-day financial realities of consumers around the world. As the flow of money between global workers and their families continues to grow, MasterCard MoneySend provides a valuable, convenient and reliable money transfer option for consumers.”
Walt Macnee, president of international markets at MasterCard Worldwide, said: “MasterCard MoneySend removes barriers impeding the transfer of money around the world and provides the global economy with a robust infrastructure that supports growth in international transfers as consumers continue to remit funds globally.
“This platform, built on the strength of the MasterCard Worldwide Network, is a clear example of MasterCard delivering upon its mission to advance global commerce by giving banks and cardholders access to secure and convenient money transfers.”
