Furthering its role in the emerging mobile payments space, MasterCard has released a MoneySend person-to-person payment application for the BlackBerry. The latest product to come out of MasterCard Labs, the service follows the June launch of MoneySend for the iPhone.
“MasterCard MoneySend allows users to ‘Send,’ ‘Pay’ or ‘Request Funds’ for a wide range of reasons including the everyday ‘IOU,’ informal services purchased from friends and family, or payments to a personal trainer, roommate, babysitter, gardener, housekeeper or repairman,” said Andrew Ong, group head, P2P, MasterCard Worldwide. “We are excited to extend MasterCard MoneySend to the Blackberry platform so that we can continue to provide consumers with innovative ways to make their lives easier.”
MasterCard MoneySend allows users in the U.S. to send or request money via their BlackBerry through participating banks and credit unions or when they create a virtual prepaid account through Bancorp Bank. Users can then link their existing debit or credit cards or bank checking account to the new virtual prepaid account and begin sending money via their Blackberry Smartphone. The designated account funds the MoneySend transaction, and users can manage and trigger the exchanges through the app. Personal and financial information is never stored on the Blackberry. Certain Bancorp Bank fees will apply. MoneySend users will be able to: accept credit or debit card payments, send money to family members, pay for informal goods and services, request money from people who owe money, simplify business or non-profit collection effort through the request funds feature, manage MoneySend transaction history from a BlackBerry, and invite other users to use MoneySend via email as a function within the app.