'Consumers and businesses today operate globally. 1 With Mastercard and Interac's combined offering, Canadians will be able to simply log in to their mobile or online banking services and send funds securely globally. According to the latest data from World Bank, $24.5B in remittances were sent from Canada to other countries. National Bank will be the first bank to pilot the new international remittance solution for its personal banking clients.Ĭanada is a large market for international payments, due to its diverse population and number of businesses that operate in an increasingly global marketplace. By leveraging Mastercard Send, a push-payments service that powers a faster, better, smarter way to send money cross border, the Interac e-Transfer platform will allow customers to send money from Canada to bank accounts internationally, starting with Europe. Mastercard and Interac, two trusted global and domestic payment networks, today announced a collaboration to offer Canadians a fast, simple and secure way to send money internationally. National Bank will be the first bank to pilot the new international remittance solution
