As society relies more heavily on their Smartphone’s to do business, companies continually come out with new ways to utilize those phones. MasterCard Worldwide has joined the ranks of companies utilizing the mobile device in the banking industry with its new Master Card MoneySend service.
The new service, available for BlackBerry Smartphones, is a quick and efficient way to transfer money in the U.S. through the mobile phone application. It can be downloaded for free on the Blackberry App World.
According to Andrew Ong, Group Head of MasterCard Worldwide, the company is excited to see the application go to the BlackBerry. He touts the many ways that users can now send, pay, or request funds.
The way Master Card MoneySend works is quite simple. Users have two options. They can either utilize a participating bank or credit union or they can create a virtual prepaid account through Bancorp Bank. When they create the virtual account they simply attach their existing debit or credit cards to the account or even their current bank account. Then when they need to send the money they use the virtual account and the money is taken from the attached card or account.
This allows users to send, receive, and request funds easily and securely through their BlackBerry phone. The app is used to send the money but the personal and financial information is not stored in the app or on the phone itself.
There are some fees associated with using the service as there are with any money transfer services.
Once a user becomes registered with MoneySend, they have the ability to complete many different types of transactions easily through their BlackBerry application.
Users can accept credit or debit card payments from other MoneySend users through their BlackBerry. This means that users can be on the go and still receive the money they need when they need it.
It is also possible to send money to family members or others a person might need to send money to. There are banking fees associated with sending the money.
A user can utilize MoneySend to pay for goods and services that they owe money for. Again, there will be some banking fees associated with the convenience.
A registered user can also request money from someone who owes them money. This simplifies life for the busy professional who is seldom sitting still.
All of the customer’s transactions on MoneySend can be managed easily through the BlackBerry application.
Similar Credit Card News:
- [March 4, 2011] BOA to Trial Pay-by-Tap on Blackberry
- [April 28, 2011] Discover Launches New P2P Service
- [August 12, 2010] Metrobank Expands Mobile Banking
- [February 22, 2011] IRS Launches Tax Refund Tracking App
- [September 28, 2011] ROAMpay X App Improves Mobile Payments
- [November 15, 2010] Mobile Banking for Businesses is on the Increase
- [February 8, 2012] Square Facilitates Accepting Campaign Contributions
