First Data and Mastercard Join Forces to Provide Digital Disbursements to Clients
June 13 2018 - 8:00AM
Business Wire
First Data (NYSE: FDC), a global leader in commerce-enabling
technology, and Mastercard (NYSE: MA) announced they have joined
forces, enabling First Data to provide a digital disbursement
platform to Mastercard’s business customers. First Data’s
Disburse-to-Debit® solution will be available to Mastercard
customers that leverage MoneySend™ to push real-time payments to
debit card holders.
“Mastercard has a long history of providing customers with
innovative financial solutions. We are thrilled to align with them
as First Data continues to expand our presence in this fast-growing
market segment,” said Dan Charron, Executive Vice President, Head
of Global Business Solutions for First Data. “We are focused on
bringing an exceptional standard of sales and service, along with
innovation, to our clients. We look forward to working closely with
Mastercard to introduce its customers to our digital disbursement
platform.”
Debit disbursements are growing in popularity with participants
in the gig economy, such as ride sharing platforms and rental
marketplaces, where workers expect real time debit payouts for
their services. Other beneficiaries of real time debit payments are
businesses with high volumes of consumer payouts including
insurance claims, rebates, refunds and commissions.
“Through our Inclusive Futures Project, Mastercard has taken a
leadership position in providing real time payments to gig and on
demand workers. Joining our expertise and technology with that of
First Data means our customers, ranging from airlines to insurance
companies to sales organizations, can enjoy the speed and security
of real time debit card payments,” said Linda Kirkpatrick,
executive vice president, U.S. market development for
Mastercard.
First Data’s Disburse-to-Debit solution provides a gateway for
digital payments. First Data offers a unique payout option for
delivering funds directly to debit cards. The solution employs a
single connection for domestic and international debit networks.
Additionally, Disburse-to-Debit works with prepaid offerings
including First Data’s Money Network® service, which provides a
convenient prepaid debit card option for consumers without
traditional bank accounts.
About First Data
First Data (NYSE: FDC) is a global leader in commerce-enabling
technology, serving approximately six million business locations
and 4,000 financial institutions in more than 100 countries around
the world. The company’s 22,000 owner-associates are dedicated to
helping companies, from start-ups to the world’s largest
corporations, conduct commerce every day by securing and processing
more than 3,000 transactions per second and $2.4 trillion per year.
For more information, please visit www.firstdata.com.
About Mastercard
Mastercard (NYSE: MA), www.mastercard.com, is a technology
company in the global payments industry. Our global payments
processing network connects consumers, financial institutions,
merchants, governments and businesses in more than 210 countries
and territories. Mastercard products and solutions make
everyday commerce activities – such as shopping, traveling, running
a business and managing finances – easier, more secure and more
efficient for everyone. Follow us on Twitter @MastercardNews,
join the discussion on the Beyond the Transaction Blog and
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Chase WallaceFirst Data+1 (404)
890-2132Chase.Wallace@firstdata.com
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