MasterCard Send, A New Digitial Payment Service

May 26, 2015, Written By Natalie Rutledge
Estonia - September 24, 2014. Close up of Mastercard credit card isolated on the white background. Mastercard is one of the biggest credit card companies in the world.

MasterCard is aiming to change the way people transfer money between debit cards, thanks to its new program called MasterCard Send. This “first-of-its-kind, global personal payments platform” allows consumers to send and receive funds within seconds, rather than waiting for the standard 1-3 business day transfer time.

Unlike most person-to-person (P2P) processors like PayPal, MasterCard Send is not designed specifically for consumers. Instead, it aims to help businesses send disbursements and cash back to customers in something very close to real-time. For example, has already incorporated MasterCard Send into its cash back program, so customers can receive direct deposits into their debit card accounts for shipping rebates. There is no waiting for a check in the mail or a long transfer process.

Consumers can still use MasterCard Send to send and receive money from friends and family members. The recipient does not need a debit card to access the funds. Send will also work with programs like Western Union.

According to MasterCard, cash and checks still contribute $1 trillion in global spending every year. MasterCard Send is attempting to be a safer, faster and cheaper alternative to these transactions. The program is now live in the United States.

“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,” Ed McLaughlin, MasterCard’s chief emerging payments officer, said in a statement.

The information contained within this article was accurate as of May 26, 2015. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.

About Natalie Rutledge

Natalie Rutledge majored in Communications at Mississippi State University. She was in sales for a number of businesses and spent nine years working as a communications advisor to various entities. Natalie can be contacted directly at [email protected]
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