Mastercard (NYSE: MA) and TransferWise announced on Thursday they have expanded their global partnership to enable the issuance of cards in any market around the globe.
According to the duo, Mastercard has built a strong partnership with TransferWise, working with the global technology company since its issuance of its first debit card in Europe in 2018. Since then, TransferWise has reportedly issued over one million Mastercard’s globally and currently partners with Mastercard across the EEA, U.S., Singapore, Australia and New Zealand, with Japan due to launch later this year. The latest partnership expansion will notably allow a route to market in nearly all countries around the world.
While sharing more details about the partnership expansion, Kristo Käärmann, CEO and co-founder of TransferWise, stated:
“As we think about the next phase in our international expansion, we want to ensure this process stays just as convenient whether you need a debit card in the UK or Japan. Building upon our partnership with Mastercard is important in maintaining that high level of convenience around the world.”
Andrea Scerch, President of Processing Services at Mastercard, further concluded:
“Broadening TransferWise’s global reach will enable millions more people around the world to benefit from Mastercard’s worldwide acceptance footprint and TransferWise’s innovative multi-currency payment solutions.”
TransferWise is also allowing its account holders to be able to send money in near-real-time to Mastercard cards in European countries, which includes Spain, Romania, Bulgaria, Czech Republic, Hungary, Poland, Ukraine, Georgia, Croatia, and Russia.