Mastercard adds AptPay to its new realtime payments platform
Mastercard is seeking to dominate the fast-growing online payments market with another fintech partnership. The card giant partnered with AptPay by integrating Mastercard Send into AptPay’s platform for enabling of funds disbursement on payments cards or accounts. Recently, Sokin partnered with Currencycloud to integrate its local payments network onto Sokin’s money transfer payments.
Mastercard Send is a payments platform that enables funds to be sent in real-time to any payment card or account. Using this, businesses using AptPay platform would be able to send payments through bank accounts, prepaid cards or digital wallets.
According to the press release, using this business can reduce cheque related frauds, have more transparent payment information and reject or reverse payments as required.
This week, TransferWise also launched facilities for its account holders using Mastercard Send platform.