Mastercard and BMO Expand Global Money Transfer Service with Mastercard Move

Mastercard Incorporated (MA) has partnered with BMO to expand BMO's Global Money Transfer service. The service, powered by Mastercard Move, now covers over 70 destinations worldwide. This strategic partnership aims to provide secure and affordable international payment options. Mastercard Incorporated is a financial technology company that enables electronic payments worldwide.

Mastercard Incorporated (MA) has partnered with BMO to expand BMO's Global Money Transfer service, powered by Mastercard Move. The service now covers over 70 destinations worldwide, offering secure and affordable international payment options. This strategic partnership aims to enhance BMO's capabilities in cross-border payments and provide a seamless experience for users.

The collaboration between Mastercard and BMO leverages the robust network of Mastercard Move, a portfolio of money transfer solutions that enables near real-time funding and secure transactions. This integration allows BMO customers to send funds to a wide array of receiving markets, including bank accounts, mobile wallets, Mastercard cards, and cash pickup endpoints [2].

The service's expansion comes at a time when cross-border payments are increasingly important for both individuals and businesses. According to a recent PYMNTS report, the global cross-border payments market is projected to grow significantly, driven by the rise of e-commerce and the need for faster, more efficient payment solutions [2].

Mastercard's Vice President of Global Partnerships, Scott Abrahams, noted that the partnership with BMO will help realize the "true potential of crypto assets in everyday applications." He added that the integration of Mastercard Move into BMO's network will provide users with greater access to payouts and lower transaction fees [2].

The partnership is part of Mastercard's broader initiative to make digital finance more accessible and user-friendly. The company has been actively working to integrate its digital payment solutions with traditional banking services, as seen in its collaboration with Binance to enable instant crypto withdrawals [1].

In conclusion, the expansion of BMO's Global Money Transfer service, powered by Mastercard Move, represents a significant step toward making cross-border payments more efficient and secure. This strategic partnership is likely to benefit both users and financial institutions by providing a seamless and reliable international payment experience.

References:
[1] https://www.livebitcoinnews.com/binance-partners-with-mastercard-for-crypto-withdrawals-across-europe/
[2] https://www.pymnts.com/news/cross-border-commerce/cross-border-payments/2025/moneygram-implements-mastercard-move-to-facilitate-digital-money-movement/