Citi, Mastercard launch global cross-border payments

It will be available in 14 markets worldwide, with plans for further expansion. 

Citi and Mastercard have collaborated to offer cross-border payments to Mastercard debit cards in 14 receiving markets worldwide, with plans for further expansion. 

Leveraging Citi’s WorldLink payment services and Mastercard Move’s money transfer capabilities, Citi clients can make near-instant, full-value payments, with near 24/7 availability to consumers using their Mastercard debit card details. 

Citi is the first global bank to enable cross-border payments to Mastercard debit cards using Mastercard Move.

This service is available to Citi clients across 65 countries in the corporate, financial institution, e-commerce, and commercial sectors.

It also supports use cases, including insurance payouts, airline refunds, and compensation payments; on-demand payments to freelance and gig-economy workers; e-commerce payments to merchants; and refunds to customers. 

Moreover, this collaboration expands Citi’s payout offering, with payment destinations spanning across Europe, Asia, Africa, and Latin America, as well as U.S. domestic transfers.