Mastercard and RCBC announced the introduction of Mastercard Send, a fast and efficient send to card service within the Mastercard Move portfolio of money transfer solutions. By integrating with Mastercard Send, RCBC will now be able to provide cardholders with a new channel for secure, transparent, and convenient international payments.
The service allows overseas Filipinos to transfer funds from a licensed originating institution using approved funding sources such as an account, wallet, or card, directly into a receiving RCBC Mastercard card. This means that overseas Filipinos can now send money almost instantly from over 100 countries worldwide to any RCBC Debit Mastercard cardholder, allowing them to access their funds right where and when they need it.
“The introduction of Mastercard Send to the Philippines comes at an opportune time, as remittances are expected to increase by 5 percent this year,” said Martin Tirol, FSVP & Head of RCBC Global Transaction Banking Group. “As we consistently explore ways to transform banking for our cardholders, this cross-border send to card service offers easy, seamless, and efficient transactions to Filipinos all over the world.”
The Philippines received $40 billion in remittances in 2023, becoming the fourth largest remittance receiving nation last year.
