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June 13, 2017

Allianz taps MasterCard solution to make real time claim payments

By Prasad

Travel insurer Allianz Global Assistance has selected MasterCard’s push payments service – MasterCard Send – to make claims payments in real time to bank accounts through debit cards.

The solution will enable Allianz to pay customers within minutes of their claim being finalised, allowing travellers to get access to their funds sooner.

The funds can be used at all places where the card is accepted, including overseas. Also, MasterCard Send allows businesses, merchants, governments, non-profits, issuers and other senders to transfer funds to consumers and small businesses.

Allianz Global Assistance USA chief marketing officer Joe Mason said: “We’re pleased to offer consumers two ways to skip the mailbox and receive claim payments shortly after approval.

“MasterCard Send’s technology allows travellers to receive their funds anywhere in the world and use that money to pay for travel expenses, purchase essentials while their luggage is delayed or even make a deposit for their next trip.”

In March, the travel insurance firm also unveiled the facility to make claim payments directly to customer bank accounts, routing through the banking system.

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