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December 18, 2019

Swiss Bankers partners Mastercard to introduce new P2P money transfer service

Swiss prepaid card issuer Swiss Bankers has introduced its latest peer-to-peer (P2P) money transfer service ‘Send’ in collaboration with Mastercard.

Based on the Mastercard Send platform, the new service will enable Swiss Bankers’ prepaid cardholders to transfer funds using ‘My Card’ app to 18 countries across the globe.

These countries are Mexico, Pakistan, Peru, the Philippines, Brazil, the Dominican Republic, India, Kenya, Morocco, Poland, Romania, Serbia, Hungary, the USA, Vietnam, Slovakia, Sri Lanka and Turkey.

Money transferred through “Send” will be deposited into the receiver’s digital wallets, bank accounts, and eligible Mastercard cards.

In future, Swiss Bankers will also enable users to collect cash at cash pick-up points.

Swiss Bankers CEO Hans-Jörg Widiger said: “Send is an innovative way of enabling peer-to-peer money transfers. In partnership with Mastercard, we’re providing our cardholders with a range of money transfer options in one place.

“Now, for the first time, you can send money from Switzerland to any eligible Mastercard card abroad. Based on our successful portfolio of prepaid card services, tapping into money transfers as a complementary business segment is a logical step for us.”

Mastercard Switzerland country manager Daniela Massaro said: “We are proud to be able to offer the Mastercard Send platform for Swiss Bankers to use in its international peer-to-peer money transfer services in Switzerland.

“Through a single connection, we enable secure, near real-time payment transfers to various endpoints around the world – including billions of bank and digital accounts, mobile wallets, eligible cards, and cash pick-up locations.”

Besides probability with guaranteed currency conversion rates, Mastercard is assuring users that their money will be transferred to the recipient within 30 minutes.

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