PURCHASE, N.Y.—Mastercard has launched a tool it says will help financial institutions set up international payments for their customers and members, including consumers and SMEs, in more than 60 currencies to over 100 markets.
The company said its Cross-Border Services Express provides a simple integration to help deliver cross-border payments to places covering 90% of the world's population.
Mastercard said it has worked with Fable FinTech and Payall Payment Systems on the service, and has sought to offer additional flexibility in how to pay by delivering funds to bank accounts, mobile wallets, cards, and cash payout locations.
“It’s our goal to provide choice, access, and transparency for payments across borders,” Alan Marquard, executive vice president, transfer solutions at Mastercard, said in a statement. “With a simple, turnkey integration, Cross-Border Services Express levels the playing field and provides small and mid-tier banks, including credit unions and community banks, with the same international payments features regardless of their size and scale.”
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