Europe Fintech Latest News

TransferGo and Mastercard Partnership to Allow Real-Time Cross-Border Payment Transfer 

TransferGo and Mastercard have announced a partnership that enables customers across 20 European countries to make international money transfers from any payment card or bank account directly to a Mastercard debit or credit card.

Leveraging Mastercard Send, TransferGo customers can now transfer money in real-time to Mastercard card holders in 20 countries: Austria, Bulgaria, Czech Republic, Denmark, Estonia, Germany, Greece, Hungary, Latvia, Lithuania, Poland, Portugal, Romania, Russian Federation, Slovakia, Spain, Sweden, Turkey, Ukraine and the United Kingdom.

The payment can be made from any card or bank account directly to a Mastercard card in those countries, thus giving people more choice in how they want to pay and get paid.

Mastercard Send enables secure, near real-time payment transfers to and from billions of card, bank and digital accounts around the world, and is part of Mastercard’s multi-rail proposition, which enables people and organisations to send and receive money how, where and when they choose.

Daumantas Dvilinskas, CEO and co-founder of TransferGo, commented: “Our partnership with Mastercard comes at a time where there is a growing need for strong international digital payments structures – something that has only accelerated during the COVID-19 pandemic. 

“We will continue to be relentless in our support of the evolving needs of both new and existing customers as we develop and implement new technology that allows us to react fast, meet new challenges head-on and achieve new outcomes.”

Milan Gauder, Executive Vice President, Products & Innovation at Mastercard Europe, said: “Providing people with choice is at the heart of what we do here at Mastercard. Be it domestic or cross-border payments, we want to empower people to decide what method of payments best fits their needs at a particular moment.

“To that end, we are delighted to partner with an innovative company such as TransferGo to reach millions of people around the world to benefit from a fast, safe and reliable international payment solution.”

With this new offering, customers who want to make international transfers will be able to benefit from the highest security standards provided both by Mastercard and TransferGo. 

As a licensed authorised payment institution in the UK, TransferGo is held to very strict security standards including keeping personal and financial information safe through modern security technology, including SSL encryption between its servers and the individual browser. 

Meanwhile, Mastercard’s security tools and capabilities provide an additional layer of security for managing regulatory, financial and fraud risks.

Author

  • Gina is a fintech journalist (BA, MA) who works across broadcast and print. She has written for most national newspapers and started her career in BBC local radio.

Related posts

Worldline Hits a Billion Transactions in Belgium as Electronic Payments are on the Rise

Mark Walker

VTB Bank First in Russia to Issue a Digital Bank Guarantee via Russian Blockchain Platform

Polly Harrison

VoxSmart Enables Energy and Commodity Firms to Trade Over WeChat and WhatsApp

Manisha Patel