Mastercard has announced the launch of Mastercard Send in the UK to allow FIs, fintechs, digital customers and other businesses to send real-time payments to UK bank accounts. The service will connect to the Faster Payments network, enabling a variety of use cases such as peer-to-peer (P2P) payments and business-to-consumer (B2C) disbursements. Mastercard has chosen Starling Bank as its strategic partner for settlement services in the UK. Starling manages the funds that are to be disbursed before they are pushed to individual accounts via Faster Payments The first UK customer for the service will be Income Group, a payroll-focused payment provider.
Mastercard customers in the UK market now make real - estate payments , following the launch of Mastercard Send . The service handles both peer - to - peer and consumer - to - consumer transactions , with Income Group the first to use it . Mastercard said Starling Bank had been named its strategic partner for UK settlement services .