Mastercard, PayPal Extend Instant Transfer To Singapore & Europe

(RTTNews) - Mastercard Inc. (MA) and PayPal Holdings Inc. (PYPL) announced Tuesday that they have extended instant transfer feature 'Mastercard Send' to Mastercard cardholders in Singapore and a number of European countries, following the success in the U.S.

Mastercard Send is an application that leverages the card network infrastructure to facilitate the secure availability of funds in real-time. With Mastercard Send, PayPal users can transfer their account balances to eligible Mastercard cards seamlessly and conveniently, typically within seconds.

PayPal will launch its Instant Transfer with Mastercard Send in Singapore followed by multiple European markets.

The service, which was initiated in 2017 in the U.S., has allowed millions of Mastercard cardholders to transfer their PayPal balances to an eligible Mastercard card.