MasterCard Launches iPhone, iPad Money Transfer App
MasterCard launched last week a new application for both the iPad and iPhone. Called MoneySend, the app facilitates person-to person money transfers. MasterCard MoneySend is available for free download at the iPhone App Store.
“MasterCard MoneySend allows users to ‘Send,’ ‘Pay’ or ‘Request Funds’ for a wide range of reasons including the everyday ‘IOU,’ informal services purchased from friends and family, payments to a personal trainer, roommate, babysitter, gardener, housekeeper or repairman,” explained Joshua Peirez, Chief Innovation Officer, MasterCard Worldwide. “With MoneySend, users avoid the hassle of making payments with cash, check or money orders and collecting funds is as simple as a text message with the ‘Request Funds’ feature of the app.”
With MasterCard MoneySend users in the U.S. can send or request money via their iPhone through participating banks and credit unions. Alternatively, consumers can create a prepaid account through Bancorp Bank, and the bank then charges fees for money transfers and other services. MasterCard said it also is trying to enlist other financial institutions to join the MoneySend program.
(Via MarketWatch.com)
