TransferGo & Mastercard to facilitate secure cross border payments for Europeans

By Megha Bhattacharya

TransferGo and Mastercard have teamed up for facilitating international money transfers for customers across 20 European countries. The transfers can be made from any payment card or bank account directly to a Mastercard debit or credit card. TransferGo customers can now transfer money in real-time to Mastercard cardholders in 20 countries including Austria, Bulgaria, Czech Republic, Denmark, Estonia, Germany, Greece, Hungary, Latvia, Lithuania, Poland, Portugal, Romania, Russian Federation, Slovakia, Spain, Sweden, Turkey, Ukraine and the United Kingdom.

TransferGo’s CEO and co-founder Daumantas Dvilinskas said, “Our partnership with Mastercard comes at a time where this a growing need for strong international digital payments structures – something that has only accelerated during the COVID-19 pandemic. We will continue to be relentless in our support of the evolving needs of both new and existing customers as we develop and implement new technology that allows us to react fast, meet new challenges head-on and achieve new outcomes.”

Mastercard’s Send enables near real-time payment transfers to and from cards, banks and digital accounts around the world. The company’s security tools and capabilities aim to offer an additional layer of security for the management of regulatory, financial and fraud risks.

Recently, TransferGo received £4 million in financing from Silicon Valley Bank UK Branch (SVB). The funding is expected to enable the FinTech to develop and expand its real-time payments platform for consumers, SMEs and enterprise clients.

“Providing people with choice is at the heart of what we do here at Mastercard. Be it domestic or cross-border payments, we want to empower people to decide what method of payments best fits their needs at a particular moment” commented Milan Gauder, Executive Vice President, Products & Innovation at Mastercard Europe. “To that end we are delighted to partner with an innovative company such as TransferGo to reach millions of people around the world to benefit from a fast, safe and reliable international payment solution” added Gauder.