25 April 2018
Visit http://response.ncr.com

MasterCard signs first Asian bank to MoneySend remittance programme

12 November 2008  |  10080 views  |  0 wallet

DBS Bank in Singapore has become the first Asian bank to sign up for the Mastercard MoneySend remittance programme.

DBS cardholders or online banking customers who subscribe to the service will be able to transfer money across the MasterCard global network to more than 50 banks in India, Indonesia, Malaysia, Philippines, and Thailand.

Customers can remit up to S$1000 per day, to a maximum of S$3000 per month. Users will be issued e-receipts and can view their online transaction history any time.

Mr Vincent Tan, managing director of DBS cards & unsecured loans (Singapore) says: "We're launching the service in these key markets which have the most relevance to our customers...Discussions are already underway with MasterCard to expand the network of markets as well as participating banks."

Based on statistics from Asian Development Bank and DBS Internet Banking, over S$1 billion is transferred annually from Singapore to Asian countries such as India, Indonesia, Malaysia and Philippines.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Western Union to extend mobile remittance network with Orascom

Western Union to extend mobile remittance network with Orascom

20 October 2008  |  8504 views  |  0 comments
Monitise launches mobile remittance system

Monitise launches mobile remittance system

12 February 2008  |  10724 views  |  0 comments
Citi releases white label remittance platform

Citi releases white label remittance platform

07 February 2008  |  10529 views  |  0 comments
Western Union pilots mobile remittance systems in the Philippines

Western Union pilots mobile remittance systems in the Philippines

30 January 2008  |  11357 views  |  0 comments
Indian m-payments outfit PayMate eyes North American remittance market

Indian m-payments outfit PayMate eyes North American remittance market

04 December 2007  |  8841 views  |  0 comments
Western Union and Bharti Airtel to pilot mobile remittance system

Western Union and Bharti Airtel to pilot mobile remittance system

30 November 2007  |  10000 views  |  0 comments
Emirates Bank offers international remittances via SMS

Emirates Bank offers international remittances via SMS

18 July 2007  |  10313 views  |  0 comments
Voca and Citi to develop international remittance platform

Voca and Citi to develop international remittance platform

09 October 2006  |  15304 views  |  0 comments
Remittances rise in Latin America; Swift looks to tap global market

Remittances rise in Latin America; Swift looks to tap global market

23 August 2006  |  9848 views  |  0 comments
MasterCard to introduce MoneySend P2P payments in Europe

MasterCard to introduce MoneySend P2P payments in Europe

20 June 2003  |  38382 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.ebaday.comVisit http://wup.digitalVisit http://response.ncr.com

Top topics

Most viewed Most shared
Top tier banks pass first transactions on trade finance blockchainTop tier banks pass first transactions on...
14772 views comments | 21 tweets | 28 linkedin
TransferWise becomes first non-bank to open settlement account with BofE RTGSTransferWise becomes first non-bank to ope...
11436 views comments | 18 tweets | 32 linkedin
'Fake data' will make banks vulnerable - Accenture'Fake data' will make banks vulnerable - A...
9740 views comments | 26 tweets | 36 linkedin
Irish central bank tunes in to fintechIrish central bank tunes in to fintech
8822 views comments | 20 tweets | 21 linkedin
Major card schemes zero in on single 'buy' button for online commerceMajor card schemes zero in on single 'buy'...
8789 views comments | 20 tweets | 36 linkedin

Featured job

Competitive base + commission + benefits
UK or Germany

Find your next job