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Burgan bank launches fast international transfer service in with Mastercard

By Leandra Monteiro

April 12, 2022

  • Burgan Bank
  • Cross Border Payments
  • Fast International Transfer
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Burgan BankBurgan Bank has launched the new Fast International Transfer service in collaboration with MasterCard in Kuwait to offer fast and secure cross-border remittances across the globe. This new service is a step forward in the Bank’s long term transformation plan aiming at integrating more cutting-edge digital services and FinTech solutions to enhance its customers’ banking experience.

Through this partnership with Mastercard Cross Border Services, known as “Mastercard send”, Burgan Bank will enable its customers to make instant, secure, and seamless international payments at any time and from anywhere through the Bank’s website or mobile app. The feature represents a significant transfer service milestone, as it connects customers to more than 25 countries with different currencies including Egypt, the United Kingdom, Bangladesh, Sri Lanka, the Philippines, Pakistan, Singapore, Thailand, and the EU countries. The Fast International Transfer service benefits include transparent transfers with no hidden fees, competitive foreign exchange rates, payment tracking, and fast and secure transfers in compliance with the highest global security standards.

Commenting the launch of the new service, Deniz Cengiz, Group Chief Digital Banking Officer at Burgan Bank said “Partnering with Mastercard allows us to offer our customers the intrinsic benefits of faster cross-border remittances, which we know are essential for financial inclusion and participation in the digital economy. Thanks to the use of Mastercard’s Cross Border platform, our customers are now able to seamlessly send funds internationally, in real-time and in the most secure way possible.”

About the partnership with Burgan Bank, Sudhir Iyer, Vice President, Cross Border Services, EEMEA (Eastern Europe, Middle East & Africa) at MasterCard, declared “By teaming up with Burgan Bank in Kuwait, Mastercard Cross Border Services can deploy the simplest, safest and most secure international transfer technology for consumers in Kuwait.”

“The new Fast International Transfer service provides 24/7 access to seamless real-time remittances to more than 25 countries via the Bank’s online and mobile platforms. This is a real game-changer in our pursuit of transparent and secure money transfers, and a major boost to the growth of the digital economy and financial inclusion in our region. Cross border payments can now be delivered much faster with many endpoints enabling near real-time fund delivery,” added Iyer.

The launch of the new Fast International Transfer service supports Burgan Bank’s strategic development plan, which seeks to ensure the delivery of more convenient and innovative digital solutions in line with customers’ needs and lifestyles.

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