TransferGo joins forces with Mastercard to simplify cross-border payments

Money transfer fintech TransferGo has teamed up with a global payments giant Mastercard to make its cross-border payments faster and more simple.

From today, TransferGo customers in 20 European countries will be able to make international transfers from any payment card or bank account directly to a Mastercard debit or credit card.

Daumantas Dvilinskas, CEO and co-founder of TransferGo, 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.”

Customers can transfer money in real-time to countries in the European Economic Area (EEA), Russia and the UK.

Milan Gauder, executive vice president of products and innovation at Mastercard Europe, added: “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,”  

“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.”

The new partnership comes just a few months after the fintech announced it would be entering 11 new markets, including Singapore and Saudi Arabia.

More recently, TransferGo also secured a £4m credit line from Silicon Valley Bank to help it power instant payments.