MasterCard to enable person-to-person money transfers via mobile device

MasterCard to enable person-to-person money transfers via mobile device
Tags: Bank / Credit Union, Debit / Credit, North America, Transaction Processing, Trends / Statistics
July 24, 2008

FinanceTech: Since 2001, MasterCard cardholders have had the ability to send each other money from a bank branch, an ATM or a PC using MasterCard's MoneySend service, which runs on MasterCard's card-authorization network. But a new option to originate transfers via text message from cell phones may make person-to-person payments more popular.

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