Mastercard has formed a new alliance to offer First Data’s digital disbursement platform Disburse-to-Debit to its business customers using MoneySend for push payments to debit card holders in real-time.
The Disburse-to-Debit solution acts as a gateway for digital payments and utilises a single connection for both domestic and international debit networks.
It can also be employed with prepaid offerings such as First Data’s Money Network service, a prepaid debit card option for consumers who do not have standard bank accounts.
Mastercard executive vice-president of US market development, Linda Kirkpatrick said: “Through our Inclusive Futures Project, Mastercard has taken a leadership position in providing real time payments to gig and on demand workers.
“Joining our expertise and technology with that of First Data means our customers, ranging from airlines to insurance companies to sales organisations, can enjoy the speed and security of real time debit card payments.”
Apart from real time debit payouts for services, debit disbursements are expected to aid businesses with high consumer payout volumes such as insurance, refunds, rebates and commissions.
First Data executive vice-president and head of Global Business Solutions, Dan Charron said: “We are focused on bringing an exceptional standard of sales and service, along with innovation, to our clients.
“We look forward to working closely with Mastercard to introduce its customers to our digital disbursement platform.”