PayPal has extended the instant transfer facility to Mastercard cardholders in Singapore and numerous other countries in Europe.
The expansion into other markets follows the success of the instant transfer service in the US market.
Using the Mastercard Send application, PayPal users can easily move funds from their PayPal wallets to their Mastercard cards in real-time.
Leveraging the instant transfer service, millions of Mastercard cardholders have moved their PayPal balances to an eligible Mastercard card since 2017.
Mastercard country manager of Singapore Deborah Heng said: “The continuous partnership with PayPal and the wider roll-out of Mastercard Send in Singapore brings greater convenience and options to Mastercard cardholders here while offering operational efficiencies for businesses.
“With a simple set-up and click of a button, consumers and businesses in Singapore can instantly transfer funds across multiple markets from their PayPal wallets to their Mastercard cards, facilitating the flow of cash securely in real-time, wherever and whenever.”
PayPal vice president of global markets and partnerships Jennifer Marriner stated: “Providing instant access to funds requires innovation and partnership within the financial industry in order to deliver an ideal customer experience.
“At PayPal, we are constantly innovating and working with important partners like Mastercard to deliver on these innovations. By expanding Mastercard Send into new countries it adds another choice for our customers to access their money even faster.”
Recently, American fintech firm Galileo rolled out new instant debit cards and bank accounts issuing solution in collaboration with Mastercard.