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- Citi and Mastercard Expand Cross-Border Payments to Debit Cards in 14 Markets
Citi and Mastercard Expand Cross-Border Payments to Debit Cards in 14 Markets
Slice of Finance Team
16 Oct
Key Highlights:
Citi and Mastercard team up to enable cross-border payments to Mastercard debit cards in 14 markets.
Solution supports payouts such as insurance, refunds, freelance, e-commerce, and gig economy payments.
Citi’s WorldLink® Payment Services integrates with Mastercard Move for faster, more efficient global payments.
Available across 65 origination countries, tapping into Mastercard’s network of over 3.4 billion cards globally.
Source: Business Wire
Notable Quotes:
“This collaboration builds on our longstanding relationship with Mastercard...to enable our clients to make cross-border payments as though there are no borders, no currencies, no constraints.”
“By powering fast and secure cross-border transfers to Mastercard debit cards, our collaboration with Citi marks a significant milestone...”
Our Take:
The collaboration between Citi and Mastercard represents a significant leap in cross-border payment capabilities, driving innovation at scale in an increasingly digital global economy. By enabling near-instant payments through Mastercard's vast network, Citi is enhancing its offering for corporate and commercial clients, while Mastercard strengthens its position in the fast-growing cross-border payments space. This partnership not only improves the speed and efficiency of payments but also widens access to digital financial services, particularly benefiting the freelance, e-commerce, and gig economy sectors.