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Mastercard alongwith SBI launches Moneysend in India
Mmbai, Dec 11 (UNI) In order to address the immediate need of a money transfer, Mastercard in association with State Bank of India today launched the world's first instant money transfer 'Moneysend' facility in the country.
Mastercard Moneysend will allow its consumers with person to person money transfer facility using their recognised debit or credit card.
The instant money transfer facility will be available to the existing network of 8,000 ATM channels of the State Bank of India.
A maximum amount of Rs 50,000 can be transferred in one day, where Rs 20 to 30 will be charged per transaction depending on the amount.
Mastercard will gradually increase the money transfer service to other banks.
Speaking
at
the
launch
of
Mastercard
Moneysend
here
today,
Mastercard
Worldwide
South
Asia
General
Manager
Nitin
Gupta
said,
''Given
the
urbanisation
and
migration
trend,
demand
for
convenient
and
person
to
person
money
solution
will
continue
to
grow,
and
the
launch
of
this
service
will
address
the
needs
of
the
mobile
population
in
the
country.''
State
Bank
of
India
Deputy
Managing
Director
Deepak
Chawla,
who
was
also
present
on
the
occasion,
said,
''The
launch
of
this
service
will
further
enable
us
to
add
significant
value
to
our
bouquet
of
products
and
services.
This
will
prove
advantageous
to
our
customers.''
UNI
