Delivering instant online authorization to facilitate fast and reliable money transfers
MasterCard® MoneySend ™
Delivering instant online authorization to
facilitate fast and reliable money transfers
Global remittances are a growing business Seize the remittance opportunity by $2002
and enormous opportunity. enhancing consumer choice. Average remittance
value per transaction
The flow of funds from migrant and expatriate workers MasterCard MoneySend is a remittance solution that
back to their families is an important source of income allows participating customer financial institutions to
in many developing economies. In 2007, the World use the global network and card products of remittance opportunity
Bank recorded global person-to-person payments at MasterCard to facilitate domestic and cross-border by 2010
USD 318 billion and estimates it to grow to USD 456 remittances via ATM, Internet, branch and phone.
billion by 2010.1 Recipients often depend on remittances $18.3 billion1
Using MoneySend, MasterCard and Maestro® Estimated global
to cover day-to-day living expenses, support their
cardholders can quickly, easily and securely transfer remittance revenues
children studying overseas, provide an emergency
money to their families and friends in select countries by 2010
cushion or, in some cases, fund small investments.
Research tells us consumers are turned off by payment across Asia-Pacific and South Asia. The receiving 200+ million2
delays, limited sending and receiving options, high cardholder can access funds when making a Foreign workers
costs and a lack of transparency surrounding fees.2 purchase anywhere MasterCard or Maestro is worldwide
accepted or by withdrawing cash at an ATM that 2.5+ billion
At MasterCard, we understand there is a significant accepts MasterCard or Maestro. With MasterCard Estimated mobile
opportunity to enhance the well-being of families by MoneySend, we enable fast money transfers with phones globally
improving the remittance process. With an estimated our instant online authorization process. Money is
10 percent of money transfers made through typically available for the recipient within one to two
traditional banking channels,3 we’re introducing business days of the transaction.
MasterCard MoneySend, a competitive solution to help
financial institutions access new segments, improve 1
World Bank 2007.
operational efficiencies and capitalize on the growing 2
The Aite Group, Competing in Money Transfers: Market Overview,
remittance opportunity. 3
Remittances – Global Opportunities for International Person-to-
Person Money Transfers, Manuel Orozco, VRL November 2005.