Mastercard, Standard Chartered Bank Team Up On Cross Border Payment

October 30, 2017         By: Steven Anderson

It seems like more people are traveling these days, and traveling across country borders. That’s opening up quite a few new opportunities, and Mastercard recently released word about one such opportunity, teaming up with Standard Chartered Bank to produce a new, faster processing of payments on a cross-border basis.

The new joint effort brings Standard Chartered Bank into a wider fraternity of companies who have already made a similar connection with Mastercard, allowing Standard Chartered to put the Mastercard Send service to work and provide customers with a new, faster way to make the necessary connections worldwide to get cash where it needs to be.

Mastercard Send represents a first-of-its-kind operation as a payments service powered by push notifications, and has even been seen as part of the roster with companies like Western Union. The system is said to work with a variety of endpoints—including both cards and mobile wallets—located in over 100 different countries, which should make for a sound experience for travelers.

Banks can put this concept to work with the use of a simple application programming interface (API) one of over 35 such APIs currently part of Mastercard’s lineup with more likely to follow soon.

Mastercard’s executive vice president of digital channels and regions Jorn Lambert noted “Mastercard is delighted to be extending our long-standing partnership with Standard Chartered Bank to revolutionize the way in which money moves globally. For many years, banks have used the Mastercard network for card payments. Now with Mastercard Send, we are expanding our network to enable banks to meet the increasing global payments needs of both their consumer and corporate customers.”

Any time you can make a customer’s way just a little easier, as a business, it’s a good idea to do so. It improves goodwill and the overall customer experience, measures that help ensure customers will come back to use a service or purchase goods later on. Standard Chartered Bank has likely made a good move here, taking advantage of new technology to offer services to its own customer base, a move that’s been echoed on several fronts already.


Mastercard Send is likely to prove a powerful addition to Mastercard’s stable of products overall, and the customer bases of several banks and companies worldwide should bear that out.