MasterCard is introducing a new service called Send, which allows customers to quickly and securely transfer funds digitally.
Funds can be transferred domestically or internationally, and Send is open to individuals, government agencies, non-profits, merchants and businesses.
Senders will need a card carrying the MasterCard logo; recipients won’t even need a bank account, as funds can be transferred via wire services like Western Union. Debit cards of any kind can also be linked to Send for accessing funds.
MasterCard isn’t detailing how Send works, but says funds are available “anytime, anywhere” via any device. The service is live in the US, with Berkshire Hathaway and FreeShipping.com among the first to take advantage.