Mastercard Delivers International P2P to Swiss Bankers

Swiss Bankers launched its new money transfer service “Send” leveraging the Mastercard Send™ platform. In collaboration with Mastercard, the Swiss prepaid card issuer is now offering consumers the ability to make secure international payment transfers via an app, to 18 countries. People will be able to receive their money to bank accounts, digital wallets, eligible Mastercard cards, and soon, cash pick-up points.

“Send is an innovative way of enabling peer-to-peer money transfers,” emphasises Hans-Jörg Widiger, CEO of Swiss Bankers. “In partnership with Mastercard, we’re providing our cardholders with a range of money transfer options in one place. Now, for the first time, you can send money from Switzerland to any eligible Mastercard card abroad.” In addition, Swiss Bankers is the first card issuer in Switzerland to provide a service that offers the option of sending money direct to bank accounts and digital wallets in different countries and will soon make it possible to send money to cash pick-up points for collection too.

“Based on our successful portfolio of prepaid card services, tapping into money transfers as a complementary business segment is a logical step for us. The popularity of simple peer-to-peer payment options is more than just a local phenomenon, they’re picking up momentum for international payments too. Our Prepaid cardholders can easily access this service, independent of a traditional bank account or digital wallet. Using our Prepaid cards not only to make payments, but to be able to send and receive money, is a crucial step towards offering greater convenience and choice to our customers,” explains Hans-Jörg Widiger.

“We are proud to be able to offer the Mastercard Send platform for Swiss Bankers to use in its international peer-to-peer money transfer services in Switzerland. Through a single connection, we enable secure, near real-time payment transfers to various endpoints around the world – including billions of bank and digital accounts, mobile wallets, eligible cards, and cash pick-up locations.  Our partnership with Swiss Bankers is another example of how Mastercard is driving innovative solutions for our customers, to help them enable people to access their money quickly, easily and securely.” says Daniela Massaro, Country Manager of Mastercard Switzerland.

The new service is now available to all Swiss Bankers cardholders, within the ‘My Card’ app. Users can select the type of payment, the destination and amount to transfer. Mastercard provides predictability with guaranteed currency conversion rates and certainty of transferring money to the recipient within as little as 30 minutes.

At the moment, cross-border money transfers are available to 18 countries via the ‘My Card’ app, expanding to more countries in the coming year. Today, international peer-to-peer payments can be made from Switzerland to: Brazil, the Dominican Republic, India, Kenya, Morocco, Mexico, Pakistan, Peru, the Philippines, Poland, Romania, Serbia, Slovakia, Sri Lanka, Turkey, Hungary, the USA and Vietnam. The availability, operation and functionalities of the services may vary by location.

Swiss Bankers cardholders can already send money to another Swiss Bankers card within Switzerland.

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As one of the first providers in Switzerland, Swiss Bankers enables mobile payments with Apple Pay, Samsung Pay and wearables such as Garmin and Fitbit. Swiss Bankers is continuously strengthening its leading position in this market and developing new digital payment options. The company was founded in 1975 and first became known through Travelers Cheques. Today, the Travel Cash card is a very popular product that is available through more than 200 distribution partners.