MasterCard now allows any business to enable P2P payments

Fortune | May 20, 2015

Payments giant MasterCard is the latest company to get into the person-to-person payments business, joining Facebook, PayPal, and rival Visa. The company launched MasterCard Send, a service that allows people to link their debit card accounts online or on a phone and transfer money to anyone in the U.S. using their MasterCard send account. Electronic peer-to-peer payments aim to replace paying people with cash or check.

The biggest difference with MasterCard Send and other competitors is that it is not a direct-to-consumer service. This isn’t a consumer offering but rather a way for businesses to reimburse their customers, or offer rebates without having to send a check in the mail.


Category: News