With ambitions for future growth, Citi and Mastercard have established a partnership to improve cross-border payments by facilitating almost instantaneous transfers to Mastercard debit cards in 14 receiving regions. Through the use of Mastercard Move's money transfer infrastructure and Citi's WorldLink Payment Services, Citi customers in 65 countries of origin may now send full-value, secure payments to customers using their Mastercard debit card information. With a variety of use cases, including insurance payouts, airline refunds, and freelance payments, this service will be available to the corporate, financial institution, e-commerce, and commercial sectors.
With more than 3.4 billion cards issued worldwide, Mastercard is one of the biggest payment networks in the world and is essential to Citi's expansion. The collaboration enhances Citi's Treasury and Trade Solutions clients' ability to conduct efficient cross-border transactions. The integrated payment solution spans Europe, Asia, Africa, Latin America, and the U.S., supporting over 135 currencies and multiple payment methods. Mastercard Move, with access to more than 95% of the global banked population, aims to ensure fast, secure, and transparent international money transfers, marking a significant step toward simplifying global payments and enhancing financial connectivity.
