Fintech & Ecommerce

Mastercard and Remitly Integrate Solutions to Expand Remittance Access

With the new integration of Send and Cross-Border Services by Mastercard, the Remitly platform will offer its customers more choices in remittance methods.

Mastercard and Remitly Integrate Solutions to Expand Remittance Access

Mastercard has announced its cooperation with a leading remittance platform Remitly to enhance Remitly app with Mastercard’s Send and Cross-Border Services.

The firms aim to improve the transparency, convenience, and speed of remittance delivery. Integrating Mastercard’s solutions into Remitly’s cross-border payments app enables U.S.-based Remitly customers to fund transactions via their debit card and increase a variety of disbursement options. With access to Mastercard’s global network, remittance recipients in various locations can now get their funds via bank accounts, cash pick-up locations, and mobile wallets.

“Having grown up in Mexico, I know first-hand how vital it is to quickly and securely send and access funds abroad to support critical everyday expenses. “Our collaboration provides Remitly users with an added layer of convenience and peace of mind, ensuring that funds get into the right hands when they need it most.”

Silvana Hernandez, Executive Vice President, Product and Engineering, North America, Mastercard

Mastercard’s Send is a global push payment platform that enables both domestic transfers in select locations and remittances. It connects organizations and individuals, providing seamless integration to any system with omnichannel APIs.

Cross-Border Services by Mastercard is a portfolio of cross-border payment solutions for individuals, businesses, non-governmental organisations and governments in over 100 countries. It has accumulative access to over three billion bank accounts and enables payments between those bank accounts, wallets, cards and cash agents.

Remitly is one of the best international money transfer apps and services out there, allowing you to send money from 20 countries (Europe, US, Canada, Australia and Singapore) to practically every corner of the world. The app stands out among its competitors with comparably low transfer fees, and high delivery speed.

The money transfer app market is rapidly developing, calling for new solutions and increased functionality. Remitly is one of the good and reliable remittance services, although it operates in fewer sending destinations than some of its competitors. Boosting its offering with the Mastercard partnership is an important step towards improving the quality, speed, and convenience of remittance flow, which remains the lifeblood of many economies.

Nina Bobro

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https://payspacemagazine.com/

Nina is passionate about financial technologies and environmental issues, reporting on the industry news and the most exciting projects that build their offerings around the intersection of fintech and sustainability.