MasterCard introduces MoneySend platform for issuers in U.S.

MasterCard introduced today their fully-integrated, on-demand person-to-person (P2P) mobile payment platform for issuers in the United States which is set to go live later this month. Owing to this new platform, MasterCard participating bank customers will be able to offer Mobile MasterCard MoneySend(TM) P2P payments to their customers. Mobile MoneySend is the breakthrough consumer payment platform that provides a better way to send and receive funds via SMS-text, mobile browser, mobile applet or an Internet PC. Initially, consumers will be able to use MoneySend with a MasterCard prepaid card issued by The Bancorp Bank and then link it to their mobile phone number to send or receive money. As additional issuers enroll for the platform, their customers will be able to use MoneySend with their everyday accounts, including MasterCard debit, credit, prepaid or checking, as determined by their issuer. After registering for MoneySend, consumers have the flexibility of directly, easily and securely transferring funds to and from family and friends through their mobile phone. Art Kranzley, Chief Emerging Technology Officer, MasterCard Worldwide, said: "Our existing MoneySend platform and Obopay's connectivity to mobile networks has allowed us to bring a simple solution for mobile P2P payments to consumers in the U.S. in partnership with our customer banks. Now we are able to offer a consistent transaction experience in both online and mobile channels for consumers in the U.S. The availability of the MoneySend P2P platform in the U.S. builds upon the success we've seen with MoneySend in the Asia Pacific Middle East Africa region, where it is available in 17 countries, including Singapore, Malaysia, Indonesia, Thailand, India, and the Philippines. MasterCard is continually expanding both the number of markets in which the platform is offered and the channels through which consumers can access it."