Mastercard and Visa are set to enter the cross-border, peer-to-peer payments sector with their respective acquisitions of Transfast and Earthport. The two companies will be able to offer a more efficient way for consumers to pay online in countries where they don't have access to traditional payment methods.
Mastercard and Visa are set to enter the cross-border, peer-to-peer payments sector with their respective acquisitions of Transfast and Earthport. As well as expanding global revenue streams for both card payment giants, analysts said the entry of Mastercard and Visa into the cross-border payments market could put pressure on disruptors PayPal and Venmo.