Release | April 15, 2024
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Mastercard and VoPay’s partnership will provide near real-time money movement for consumers and businesses in Canada and globally
Mastercard and VoPay announced a strategic partnership leveraging Mastercard’s comprehensive money transfer solution, known as Mastercard Move. It facilitates fast, safe and efficient currency transactions both domestically and internationally.. This partnership aims to redefine the financial transaction landscape and improve the accessibility and convenience of financial transactions. Businesses and Consumers.
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Hamed ArbabiVoPay CEO and Founder:
“This partnership delivers on both companies’ commitment to providing more choice and greater transparency for people who need to send money. This platform will also transform the way businesses and consumers transfer money internationally. Whether it’s money transfers, small business payments or commercial payments, Mastercard Move allows VoPay to help businesses, financial institutions and consumers send money to bank accounts, mobile wallets, cards and cash disbursement locations in more than 100 countries. “The joint solution between VoPay will transform the user experience for both senders and recipients.”
- Mastercard Move integrates domestic and international money transfer capabilities, offering a variety of payment methods including: Direct bank transfer and debit or prepaid card payments. This diversity supports a wide range of trading needs across a variety of sectors.
- Through this partnership, VoPay utilizes Mastercard Move to Facilitate all domestic payments within Canada. This includes direct payments to bank accounts, debit cards and reloadable prepaid cards and improves the efficiency of domestic economic activity by serving a variety of needs, from gig economy compensation to medical payments.
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- that much The partnership significantly improves cross-border payments by providing secure, fast and transparent remittance options.. These improvements are critical to Canada, given its active participation in international trade and its growing immigrant population that relies on remittance services.
- Cooperation is guaranteed High transaction security featuring traceable payments, transparent fee structures and real-time updates on transaction status. These capabilities are critical to building trust and promoting more seamless financial interactions around the world.
Ramesh JayakrishnanMastercard Canada’s Vice President of New Payment Platforms:
“There is growing demand for interoperable technologies that enable consumers and businesses to move money seamlessly across domestic and international networks. By leveraging Mastercard’s technology and Mastercard Move, including global and domestic network connectivity, VoPay will deliver significant value to Canadian consumers, businesses and government agencies with a focus on providing a globally interoperable platform with built-in financial capabilities. “I will.”
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Why This Matters
VoPay and Mastercard’s collaboration supports Canada’s economic growth and global financial innovation by improving payment speed, security and transparency.
that much National Crowdfunding and Fintech Association (NCFA Canada) provides education, market information, industry management, networking and financing opportunities and services to thousands of community members, and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and financing landscape. It is an innovation ecosystem. Industry in Canada. Decentralized and decentralized, NCFA collaborates with stakeholders around the world and incubates the fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrencies, regtech and insurtech sectors. Help with projects and investments. . Join the Canadian fintech and fundraising community today for free! Or become a contributing member and reap the benefits. For more information, visit www.ncfacanada.org.