Following this announcement, the collaboration is expected to provide users in the regions of the UK, Australia, Canada, and Europe with the possibility to send funds in near real-time to beneficiaries in India, Norway, Denmark, Sweden, and multiple countries in the Single Euro Payments Area (SEPA) region.
In addition, both companies will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
Through this initiative, users and customers will have the possibility to choose how beneficiaries receive their money, including their bank accounts, cards, mobile wallets, or cash payout method, depending on the overall market. At the same time, they will be enabled to select from six payout currencies, including EUR and INR.
In addition, ACE customers in the UK, Australia, and Europe will also be allowed to fund their transfers to India and countries in the SEPA zone using their Mastercard products. The collaboration with Mastercard also reflects ACE Money Transfer’s strategy to provide fast, reliable, and secure money transfer services. The companies will focus on fostering access to essential financial tools, while also optimising the manner in which communities grow through secure connections. At the same time, they also aim to remain committed to bringing speed and security to the remittance experience for customers and clients.
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