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October 26, 2017

Standard Chartered Bank integrates Mastercard Send service

By Shruti T

Standard Chartered Bank has selected Mastercard Send service to expand its cross-border payment services.

The push payments service is offered to more than three billion bank accounts worldwide and fund transfers can be done to both card and non-card endpoints including mobile wallets and cash-out locations in over 100 countries.

The British banking group intends to deploy Mastercard Send service across several countries in Middle East and Africa as part of its international payments services.

Banks can integrate Mastercard Send through an easy-to-use API, which is one of more than 35 APIs available through the Mastercard Developers portal.

Mastercard digital channels and regions executive vice president Jorn Lambert said: “Mastercard is delighted to be extending our long-standing partnership with Standard Chartered Bank to revolutionise the way in which money moves globally.

“For many years, banks have used the Mastercard network for card payments. Now with Mastercard Send, we are expanding our network to enable banks to meet the increasing global payments needs of both their consumer and corporate customers.”

Standard Chartered Bank Middle East, Africa and Pakistan retail regional head Jaydeep Gupta said: “As our customers’ banking and business needs have become more diverse and global, it is essential that we provide solutions that help them safely and quickly move money around the world.

“We see our partnership with Mastercard, and our use of Mastercard Send, as critical components to ensuring our customers’ satisfaction with the services we offer.”

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