Mastercard Launches Easy-to-Use Cross-Border Payment Solution
On Tuesday, Mastercard announced the launch of a new service that utilizes digital technology to enable financial institutions to establish fast and safe cross-border payments for their customers.
Mastercard has recently launched an innovative tool, Mastercard Cross-Border Services Express, which facilitates international payments for various financial institutions’ customers, including consumers and small and medium-sized enterprises (SMEs).
It offers services in over 60 currencies across 100 markets, covering 90% of the world’s population.
To provide users with the flexibility to pay, Mastercard is collaborating with Fable FinTech and Payall Payment Systems to transfer funds to bank accounts, mobile wallets, cards, and cash payout locations.
Alan Marquard, the EVP of transfer solutions at Mastercard, states that Cross-Border Services Express is a straightforward and effortless solution.
It provides small and mid-tier banks, credit unions, and community banks with access to the same international payment features regardless of their size and scale.