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With this in mind, MasterCard International
has contracted with Magex to provide a person-to-person funds
transfer service to be known as MasterCard MoneySend™.
The service maximizes MasterCard's network and processing
capability and provides MasterCard's Member Banks with
a comprehensive and cost-efficient card-to-card money transfer
service.
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This in turn enables those Member Banks to offer
their customers the opportunity to remit funds to other eligible
MasterCard cardholders within the EU inexpensively and easily.
MasterCard MoneySend™ will be distributed and branded by MasterCard’s
Member Banks. Three leading European banks have already signed
up, namely CartaSi (Italy), Royal Bank of Scotland Group – including
NatWest Bank (UK) and Euro Kartensysteme (Germany).
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Of critical importance to MasterCard was the
ability to deploy a payments service within short timescales
with minimal impact on its internal IT staff.
This was a key win for
Magex as a fundamental part of their offering was to provide
a fully hosted, outsourced service which was quick to deploy
and relatively inexpensive to implement.
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