Mastercard has released a tool that helps banks set up international payments for their customers, like consumers and small and medium-sized businesses (SMBs), in more than 60 currencies to more than 100 markets.
Mastercard Cross-Border Services Express promises easy integration. It makes possible to send cross-border payments to 90% of the world’s people.
Mastercard is working on the service with Fable FinTech and Payall Payment Systems. Users can choose how they want to pay by having funds sent to their bank accounts, mobile wallets, cards, or cash payout locations.
Alan Marquard, Mastercard’s EVP of transfer solutions, says:
“With a simple, turn-key integration, Cross-Border Services Express levels the playing field and provides small and mid-tier banks, including credit unions and community banks, with the same international payments features regardless of their size and scale.”
