Mastercard teams up with Canadian fintech VoPay to simplify payouts (NYSE:MA)
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Mastercard (NYSE:MA) and Canadian fintech VoPay have joined forces to offer seamless money movement across networks in Canada and internationally for business and consumers, the companies said Monday.
Leveraging Mastercard’s (MA) newly combined portfolio of domestic and international money transfer solutions, called Mastercard Move, the companies will provide a choice of payment rails and capabilities for reliable, fast and secure fund transfers to their customers.
The joint solution will enable Canadian businesses and financial institutions to make domestic payouts or disbursements to any enabled debit card or reloadable prepaid card, regardless of the payments network.
Such payments could also be sent directly to the recipient’s bank account leveraging other existing Canadian payment rails.
