Citi and Mastercard announced a collaboration to facilitate cross-border payments to Mastercard debit cards in 14 receiving markets globally. Citi is the first global bank to enable these payments using Mastercard Move’s money transfer capabilities.
The integrated solution is available to Citi clients across 65 origination countries, including corporate, financial institution, e-commerce, and commercial sectors. It supports various use cases such as insurance payouts, airline refunds, and payments to freelance workers.
This partnership leverages Mastercard's extensive network, which includes over 3.4 billion debit, prepaid, and credit cards issued globally as of Q2 2024. The collaboration aims to make cross-border payments simpler, faster, more efficient, and more accessible for businesses and consumers.
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