Mastercard Move and ACE Money Transfer partner on cross-border transactions - Trade Treasury Payments

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Mastercard Move and ACE Money Transfer partner on cross-border transactions

A new collaboration between ACE Money Transfer and Mastercard Move aims to speed up and make international remittances more convenient for customers across multiple regions. The partnership will allow ACE customers in the UK, Australia, Canada, and Europe to send money in near real-time to recipients in India, Norway, Denmark, Sweden, and Single Euro Payments Area (SEPA) countries.

By leveraging Mastercard Move’s advanced money transfer capabilities, ACE users will now have expanded options for sending and receiving funds. Depending on the destination country, beneficiaries can receive money through bank accounts, payment cards, mobile wallets, or cash payouts. The service supports six payout currencies, including Euros and Indian Rupees.

The agreement also allows ACE customers in the UK, Australia, and Europe to fund their transfers using Mastercard cards when sending money to India and SEPA countries.

ACE Money Transfer, headquartered in Manchester, serves 1.3 million customers worldwide and facilitates payments to over 100 countries. The company has been recognised for its commitment to financial accessibility and innovation, including its use of open banking technologies to improve services.

Rashid Ashraf, CEO of ACE Money Transfer, said, “Every remittance 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.”

Tulsi Narayan, Head of Commercial & New Payment Flows Europe at Mastercard, said, “Millions of people rely on remittances to meet essential needs such as food, housing, and education. We are committed to making these transfers as seamless, fast, and secure as possible, and this partnership with ACE Money Transfer aligns with that mission.”

Mastercard Move provides domestic and international money movement solutions to financial institutions, businesses, and individuals. Its network spans 180 countries and 150 currencies, reaching over 95% of the world’s banked population and nearly 10 billion endpoints globally.