MasterCard Mobile River MoneySend Platform Seth To Go Live
Jul 25, 2009 phones
MasterCard announced that their fully-integrated, on-demand individual-to-individual (P2P) mobile payment chopine for issuers in the United States is exercise set to go live later this calendar month. With this new chopine, MasterCard participating bank building customers will be able to offer Mobile River MasterCard MoneySend(TM) P2P payments to their customers. Mobile MoneySend is the breakthrough consumer defrayal platform that provides a bettor means to send and receive funds via SMS-textual matter, mobile browser, mobile applet or an Net PC. Initially, consumers will be able to manipulation MoneySend with a MasterCard prepaid card issued by The Bancorp Bank and then link it to their mobile earphone figure to send or receive money.
As additional issuers enroll for the chopine, their customers will be able to manipulation MoneySend with their everyday accounts, including MasterCard debit, credit, prepaid or checking, as determined by their issuer. Once registered for MoneySend, consumers have the flexibility of directly, easily and securely transferring funds to and from family unit and friends through their mobile earphone, eliminating the need to write or immediate payment checks, visit ATMs, or conducting wire money domestically.
Senders initiate transfers to any domestic mobile earphone number via SMS content, mobile vane browser or a downloadable MoneySend diligence. Upon trigger of the transfer, the transmitter approves the request by entrance the MoneySend mobile PIN which only the accountholder knows. Then the recipient receives a textual matter content verification of the transference (for pre-registered users) or that the transfer is pending (for yet to be registered users). The finances can then be accessed by the recipient through an account designated during the enrollment procedure. Initially, this will be a prepaid history with The Bancorp Bank. These funds are then available for access through the mobile earphone. If the consumer has a MasterCard card associated with the account the funds can also be accessed at traditional points of interaction, including ATMs, over-the-counterpunch at a bank branch, or at the distributor point-of-sale.
“Our existing MoneySend chopine and Obopay’s connectivity to mobile networks has allowed us to bring a simpleton answer for mobile P2P payments to consumers in the U.S. in partnership with our customer banks,” said Art Kranzley, Chief Emerging Technology Officer, MasterCard Worldwide. “We know that consumers are now constantly connected, whether in movement of their computer screens or on the go with their mobile phones that ar always there and always on. Since the MoneySend platform supports P2P payments through any PC or mobile gimmick, we ar able to crack a consistent dealing experience in both online and mobile channels for consumers in the U.S.”
Kranzley added, “The handiness of the MoneySend P2P platform in the U.S. builds upon the success we’ve seen with MoneySend in the Asia Pacific Middle East Africa region, where it is available in 17 countries, including Republic of Singapore, Malaysia, Indonesia, Thailand, Republic of India, and the Philippines. MasterCard is continually expanding both the number of markets in which the chopine is offered and the channels through which consumers can approach it.”
“We know that consumers in the U.S. are looking for better ways to send money to their friends and family quickly, securely and easily,” said Terrence Crowley, Senior Vice President with The Bancorp Bank. “Leveraging MasterCard’s MoneySend platform, Bancorp is excited to be able to crack a prepaid solution that makes individual-to-individual money transference via mobile phones an attractive opportunity for our cardholders.”
“With consumers clamor for services that burst their mobile lifestyle, we’re happy to employment with MasterCard, a troupe that has long embraced the enormous potential to turn every mobile gimmick into a defrayal device,” said Obopay Senior Vice President of the United States Michael E. Diamond. “Through our partnership with MasterCard, we’re gift billions of people the agency to easily and securely send money to family unit, friends and loved ones.”
“Nokia has long been a drawing card in development mobile devices that offer approach to mobile payments and is excited to see this latest innovation which takes mobile defrayal services to the next level in the U.S.,” said Teppo Paavola, Vice President of the United States, Corporate Business Development, Nokia. “We believe that manufacture collaboration is vital to the success of mobile payments and, together with Obopay and MasterCard, we look forward to further innovation in this expanse.”
Tags: mastercard, mastercard mobile moneysend platform set to go live, may 13, mobile payments, obopay, payments news, purchase, sifma global smartbrief global financial services email newsletters press release
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