TransferWise and Mastercard expand their global partnership

Mastercard and TransferWise, today announced an expanded partnership to enable the issuance of cards in any market around the world where Mastercard is accepted and TransferWise is licensed. Mastercard has built a strong partnership with TransferWise, working with the global technology company since its issuance of its first debit card in Europe in 2018. Since then TransferWise has issued over 1 million Mastercard’s globally.

„TransferWise currently partners with Mastercard across the EEA, US, Singapore, Australia and New Zealand, with Japan due to launch later this year. This expansion of the relationship will allow a route to market in nearly all countries around the world,” according to the press release.

„TransferWise has a vision for its multi-currency borderless account to replace expensive, old world international banking for its audience of expats, freelancers, businesses and travellers. Its customers are increasingly using the borderless account as an international banking alternative, with new features including direct debits and instant international payments to friends,” Mastercard said.

The Mastercard and TransferWise teams worked collaboratively to enable Apple and Google Pay, Fitbit and Garmin Pay across the EEA for all TransferWise cards.

In addition to card issuance, leveraging Mastercard Send™ TransferWise has launched the capability for TransferWise account holders to be able to send money in near-real time to Mastercard cards in European countries including Spain, Romania, Bulgaria, Czech Republic, Hungary, Poland, Ukraine, Georgia, Croatia and Russia.

Over eight million people use TransferWise, which processes over £4 billion in cross-border payments every month, saving customers over £1 billion a year.