‘Mastercard Move’ to focus on SMEs, education cross-border payments
The Hindu
Mastercard Move aims to simplify cross-border payments for SMEs and students in India, enhancing efficiency and reducing costs.
Mastercard, through its latest offering ‘Mastercard Move’, is set to focus on Small & Medium Enterprises (SMEs) and student communities across India to facilitate safer and faster cross-border payments.
Mastercard Move is expected to be introduced soon in India to solve cross-border money movement problems. “We are very focused on education payment and in how SMEs get paid,” said Pratik Khowala, Executive Vice President and Global Head of Transfer Solutions Mastercard.
“Globally it is a big piece of business that we want to focus on in India. We want to bring the same UPI experience to cross-border payments and that is my vision. It might not happen tomorrow, but it will happen,” he emphasised.
Mastercard Move is more like domestic money movement as well as cross-border movement. It reaches 200 countries and territories, connecting more than 17 billion endpoints across accounts, cards, wallets, and cash. It also supports 150 currencies.
This global reach enables the company to serve both emerging and established markets across a wide range of use cases more effectively than anyone else.
The product offers multi-rail money transfers that address a variety of needs, including P2P transfers, me‑to‑me transfers, disbursements (B2P), commercial payments (B2B), government payments (G2B/G2P), and bill payments (P2B).
The rupee declines 14 paise to 92.42 against the dollar amid rising crude prices and foreign fund withdrawals.
Dell’s total workforce declined by about 10%, or 11,000 employees, in fiscal 2026, it said on Monday
Nvidia chief Jensen Huang on Monday said the leading artificial intelligence chip maker is heading for space with a goal of powering orbiting data centres.
Meta Platforms shares rose nearly 3% on Monday after a Reuters report that the social media giant plans to lay off 20% or more of its workforce to offset heavy spending
Wholesale price inflation hits 11-month high at 2.13%, driven by rising crude prices and increased costs across various sectors.
Kerala's wellness sector faces uncertainty due to the West Asian crisis, impacting tourism and threatening economic stability.
Experts link Punjab's distress migration to economic stagnation and job mismatches, highlighting systemic failures in political leadership.
India's merchandise exports remain flat in February, with Commerce Secretary warning of a potential dip in March due to trade constraints.
Hard Rock International closes 10 outlets in India, including three cafes in Bengaluru, while Goa hotel remains open.
The booming market for artificial intelligence servers brought Taiwan's Foxconn a 24 percent jump in annual net profit, the company said
In a statement on its website, Adobe said it has in recent years streamlined its sign-up and cancellation processes and made them more transparent.
Stock markets recover as Sensex and Nifty bounce back following a three-day slump, driven by value-buying in blue-chip stocks.
U.S. President Donald Trump’s administration is set to receive a roughly $10 billion fee from investors in the recently completed deal to take control of TikTok’s U.S. business, the Wall Street Journal reported