Wells Fargo is delivering real time payments to Treasury Management and Merchant Services customers through Mastercard Send, payments service that sends funds quickly and securely to consumers domestically.
By integrating the Mastercard Send application programming interface, Wells Fargo can make digital payments to consumers and small businesses that are typically handled with cash or checks.
”Moving money is one of a treasurer’s primary responsibilities, and it’s our job as their bank to help them fulfill that responsibility, quickly and safely,” Keith Theisen, head of product management for Wells Fargo’s treasury management group, said in a news release.
Merchants and businesses across industries, government and other nonprofit organizations can also take advantage of the API.
“In today’s digital world, consumers have come to expect payments and disbursements to be made in real-time,” Matt Barr, senior vice president of digital payments and labs at Mastercard, said in the release. “Mastercard Send addresses this by enabling businesses, governments, and others to send money instantly and securely, through a robust platform that joins all U.S. debit card accounts with one connection.”