Citigroup, Mastercard team up on cross-border debit card payments

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Citigroup, Mastercard team up on cross-border debit card payments - Business Standard

Quick Summary:

Visa also has a partnership with Western Union Co.where customers can send money to eligible Visa cards and bank accounts in more than 40 countries.

Facilitating such transactions is a significant growth opportunity for both Mastercard and larger rival Visa Inc.as commerce continues to become increasingly global.

What makes this method of money movement ideal for some transactions is the nearly real-time nature of it, ranging from seconds to minutes, Alan Marquard, Mastercard’s head of transfer solutions, said in an interview.