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MasterCard gets in on digital dollars

When you think about electronically transferring funds the name PayPal probably springs to mind. 

Now MasterCard is looking to get its own piece of the digital dollar pie.

Pay off

MasterCard is preparing to launch Send, a service that lets users securely transfer funds online. As long as they have a MasterCard credit or debit card.

While details are still scant, MasterCard says funds can be sent domestically or internationally, and can be transferred using existing wire services like Western Union.

The company promises funds can be transferred at any time from a range of devices.

Spread the love

Importantly, recipients don't have to be a MasterCard customer, while the service will be open to individuals, businesses, merchants, non-profits and government.

Send comes as other big players scramble to get into the electronic funds transfer game. Facebook Messenger recently updated to allow users to send money to one another.

Stay tuned for more electronic cash updates.

 

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