MoneyGram Connects with Mastercard Move to Enhance Cross-Border Payments
Hey Payments Fanatic!
Only those who have dealt with it know the frustration of sending money abroad. Mastercard and MoneyGram are teaming up to change that.
By integrating Mastercard Move into its network, MoneyGram will make global money transfers faster, more secure, and more accessible. U.S. customers can now send funds to 38 countries using any U.S.-issued Mastercard card. The initiative also connects users to nearly 10 billion endpoints worldwide, simplifying cross-border payments. Additional enhancements are expected throughout 2025.
“Our expanding global network, present in nearly every country, is one of our most valuable assets,” said Anthony Soohoo, CEO of MoneyGram. “Through strategic alliances like this, we continue to grow our network, advancing MoneyGram’s mission to make cross-border payments seamless, affordable, and secure for everyone.”
The impact will be clear: faster transfers, lower costs, and greater financial access. Customers can send funds to bank accounts, mobile wallets, and cash pick-up locations, all with the reliability of Mastercard’s trusted infrastructure.
“By integrating Mastercard Move into MoneyGram’s vast network, we’re building in speed and added peace of mind into every transaction so that critical funds can get into hands when and where it’s needed,” said Chiro Aikat, U.S. Co-President, Mastercard.
If you want to catch up on the latest in Payments, keep scrolling!
Cheers,
INSIGHTS
🇮🇳 Only 4% of all payment transactions move half of India's money.
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GOLDEN NUGGET
𝐋𝐞𝐠𝐚𝐜𝐲 vs 𝐍𝐞𝐱𝐭-𝐆𝐞𝐧 𝐂𝐚𝐫𝐝 𝐈𝐬𝐬𝐮𝐢𝐧𝐠 by Pomelo — a new era of cards👇
► 𝐋𝐞𝐠𝐚𝐜𝐲 𝐂𝐚𝐫𝐝 𝐈𝐬𝐬𝐮𝐢𝐧𝐠 relied on singular, rigid systems with limited scalability, lengthy integrations, and minimal flexibility. These systems required third-party management for changes, leaving businesses with slow implementations and increased costs.
Examples → TSYS, FIS, Fiserv
► 𝐍𝐞𝐱𝐭-𝐆𝐞𝐧 𝐂𝐚𝐫𝐝 𝐈𝐬𝐬𝐮𝐢𝐧𝐠 introduces cloud-native, API-driven platforms that enable rapid program launches, real-time decision-making, and seamless product expansion. This modern approach eliminates traditional bottlenecks, allowing faster growth, improved security, and scalability.
Examples → Pomelo, Marqeta, Galileo Financial Technologies
𝐋𝐞𝐠𝐚𝐜𝐲 𝐯𝐬. 𝐍𝐞𝐱𝐭-𝐆𝐞𝐧 𝐈𝐬𝐬𝐮𝐢𝐧𝐠 𝐒𝐭𝐚𝐜𝐤 👇
1️⃣ Technological Infrastructure
► Legacy: Obsolete, rigid technology with limited scalability.
► Next-Gen: Cloud-native, API-driven, scalable, and adaptable infrastructure.
2️⃣ Implementation Times
► Legacy: Complex and lengthy integrations, taking months or years.
► Next-Gen: Fast integration within weeks, leveraging modular APIs.
3️⃣ Flexibility & Customization
► Legacy: Rigid systems with limited configurations and no flexibility.
► Next-Gen: Modular architecture that customizes business rules, security, and user experiences.
4️⃣ Management Autonomy
► Legacy: Operational changes rely on third parties, increasing time and costs.
► Next-Gen: Real-time dashboards allow rule management, fraud monitoring, and chargeback handling without intermediaries.
5️⃣ Support for New Solution
► Legacy: Limited integration into new technologies.
► Next-Gen: Native support for virtual cards, multicurrency, Tap to Add, and tokenization.
6️⃣ Speed & Availability
► Legacy: Prone to service outages and high latency.
► Next-Gen: Uninterrupted processing with guaranteed SLA and high availability.
7️⃣ Security & Compliance
► Legacy: Manual compliance with regulations that is less efficient.
► Next-Gen: Compliance with PCI DSS, ISO 27001 certifications, and real-time risk management.
8️⃣ Fraud Prevention
► Legacy: Traditional scoring models with fixed rules that lack responsiveness to new threats.
► Next-Gen: Real-time monitoring and customizable rules powered by machine learning to detect and prevent fraud.
Pomelo 𝐔𝐬𝐞 𝐂𝐚𝐬𝐞:
✅ Unprecedented Speed → Launch multiple programs in less than a month, tailored to each business.
✅ Record-breaking Tokenization → Implemented in under 18 days with just two APIs.
✅ Limitless Issuance → Over 260 cards per second without compromising performance.
✅ Seamless Expansion → Expand products and markets with a single integration.
✅ Real-Time Decisions → Operate autonomously with a live dashboard for frictionless decisions.
Source: Pomelo
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