Users of international money service provider, ACE Money Transfer (ACE) will have a choice over how beneficiaries receive their money, including into their bank accounts, cards, mobile wallets, or by cash payout method, depending on the market, following a new partnership with Mastercard Move, Mastercard’s portfolio of domestic and international money movement solutions.
Leveraging Mastercard Move’s advanced money movement capabilities, ACE customers in the UK, Australia, Canada, and Europe will now be able to make fast, secure, and convenient transfers to India, Norway, Denmark, Sweden, and other countries in the Single Euro Payments Area (SEPA). Users will be able to select from six payout currencies, including Euros and Indian Rupees.
ACE provides remittance services to over 100 receiving countries, serving 1.3 million customers worldwide. With a network of offices spread across the UK, Europe, Australia, Pakistan, and Bangladesh, the company has built a reputation as an industry leader in the adoption of open banking, utilising its benefits to improve financial accessibility and services.*
Rashid Ashraf, the CEO of ACE Money Transfer, said: “Every remittance sent tells a story of support for families separated by distance. Our collaboration with Mastercard reflects our dedication to providing fast, reliable, and secure money transfer services. Together, we aim to foster access to essential financial services, helping communities grow through meaningful connections.”
In partnership with Mastercard
Mastercard Move provides direct disbursers, banks, non-bank financial institutions, and their customers with fast, secure money transfer solutions, domestically and internationally, to nearly 10 billion endpoints worldwide so people everywhere are empowered with the confidence, control, and flexibility to thrive in the global economy.
Mastercard Move’s overall reach spans more than 180 countries and 150+ currencies, with access to more than 95 per cent of the world’s banked population.
Tulsi Narayan, head of commercial and new payment flows Europe at Mastercard, added: “Millions of people and communities around the world rely on remittances from friends and family working overseas to help meet their financial needs, whether that’s food, housing, or education. We’re committed to bringing ease, speed and security to the remittance experience for our customers, and through this collaboration, we’re doing just that.”
