Mastercard and Remitly Join Forces to Expand Access to Cross-Border Payments
19 Outubro 2023 - 10:00AM
Mastercard and Remitly Global, Inc. (NASDAQ: RELY) (“Remitly”), a
leading digital financial services provider for immigrants and
their families, today announced they’ve joined forces to expand
access to cross-border payments and remittances. Tapping into the
power of the Mastercard network, Remitly will integrate
Mastercard’s Send and Cross-Border Services to offer its customers
more choice in how they securely send money to family and loved
ones abroad via the Remitly app.
Convenient and secure access to remittances serves as a lifeline
for many. According to Mastercard’s upcoming 2023 Borderless
Payments Report, 41 percent of consumers who have made cross-border
payments in the last 12 months intend to increase the frequency of
their cross-border transactions over the next year to provide
critical financial support for family and friends overseas.
Further, in a November 2022 survey of approximately 2,000
remittance senders conducted by Remitly, 34 percent of respondents
said that money sent home is the primary source of income for their
recipient’s household. Remitly and Mastercard are committed to
improving the transparency, convenience, and speed of delivering
these critical funds to Remitly’s customers’ families and loved
ones.
"Remitly is committed to transforming the way money moves
internationally so that our customers can send money with complete
confidence and peace of mind," said Matt Oppenheimer, Co-founder
& CEO of Remitly. "Our partnership with Mastercard demonstrates
continued progress toward this monumental goal, adding breadth and
depth to our robust payments network, so more customers around the
world can access the trusted cross border payments they need to
support their loved ones back home."
Together, Mastercard and Remitly are making it more convenient
to send money abroad. Backed by the speed, reach, and trust of the
Mastercard network, Mastercard Send enables U.S.-based Remitly
customers to fund transactions via their debit card. Remitly has
also integrated Mastercard Cross-Border Services to offer customers
more choice in how recipients can access their funds through a
variety of disbursement options within Mastercard’s global network,
such as bank accounts, cash pick-up locations, and mobile
wallets.
“Having grown up in Mexico, I know first-hand how vital it is to
quickly and securely send and access funds abroad to support
critical everyday expenses,” said Silvana Hernandez, Executive Vice
President, Product and Engineering, North America, Mastercard. “Our
collaboration provides Remitly users with an added layer of
convenience and peace of mind, ensuring that funds get into the
right hands when they need it most.”
Together, Mastercard and Remitly are providing convenience and
optionality for each step in the remittance journey.
About Mastercard (NYSE: MA)Mastercard is a
global technology company in the payments industry. Our mission is
to connect and power an inclusive, digital economy that benefits
everyone, everywhere by making transactions safe, simple, smart and
accessible. Using secure data and networks, partnerships and
passion, our innovations and solutions help individuals, financial
institutions, governments and businesses realize their greatest
potential. With connections across more than 210 countries and
territories, we are building a sustainable world that unlocks
priceless possibilities for all.
About RemitlyRemitly is a leading digital
financial services provider for immigrants and their families in
over 170 countries around the world. Remitly helps immigrants send
money home in a safe, reliable and transparent manner. Its
digitally-native, cross-border remittance app eliminates the long
wait times, complexities and fees typical of traditional remittance
processes. Building on its strong foundation, Remitly is expanding
its suite of products to further its mission and transform
financial services for immigrants all around the world.
Media Contacts:
Jenna Saper, Director of Communications, Mastercard
jenna.saper@mastercard.com 914-351-6818
Kendall Sadler, Director of Communications, Remitly
kendall@remitly.com 206-321-7717
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