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MoneySend BETA

Our MoneySend® service is in BETA. We’re excited for you to try it out. This service has been launched because of feedback we have received from the developer community. Feel free to post comments to our forums and share your experiences with this service. Your feedback is important to us.

What is MasterCard® MoneySendTM?

MasterCard MoneySend helps financial institutions facilitate the transfer of funds from one person to another by enabling their customers to send money to their families and friends and to receive transfers directly to their MasterCard card.

Are you a merchant who wants to accept payments? Our Payments API may be what you need. Look here for information.

How MoneySend works

Financial institutions offering MasterCard MoneySend money transfer services engage in two transactions to accommodate the money transfer between the sender and the recipient: a funding transaction and a payment transaction.

Step 1: Funding Transaction

MasterCard provides a Funding transaction to move money from the sender (customer) to the Originating Institution (the financial institution providing the money transfer service); that transaction can be initiated through the MoneySend API.

  • The amount used to fund the transaction will be the amount provided to the recipient, plus any fees charged by the Originating Institution.
  • The sender can fund the transaction using a MasterCard card account or other branded card account that the Originating Institution accepts; from a bank account; or with cash.
  • The Funding Transaction can be initiated in a number of ways, including at a bank branch, an ATM, a mobile banking application, or a Web-based service such as an Internet banking site.
    • If the Sender provides a MasterCard card to fund the transaction, the transaction can be processed using a MasterCard MoneySend Funding Transaction leveraging the MasterCard Worldwide Network.
    • If another funding source is used or the account is held at the Originating Institution, the Originating Institution may use an On-Us Transaction. (An On-Us Transaction is an intra-bank transaction to move funds from the Sender to the Originating Institution.)

Step 2: Payment Transaction

The Payment Transaction transfers funds from the Originating Institution, via the MasterCard Network, to the account identified by the recipient at the Receiving Institution. Funds can be transferred to a MasterCard®, Debit MasterCard®, MasterCard ElectronicTM, Cirrus®, or Maestro® account. The Originating and Receiving Institution must both have the ability to process MoneySend transactions.

MoneySend API Services

There are three MasterCard MoneySend API services. The Transfer service is the core API used to transfer funds to a MasterCard card account. PAN Eligibility and Card Mapping are services that enhance the transfer by validating the card account and processing transactions using an alias, such as a user's email or password, to provide privacy for the receiver and reduce the PCI burden for the developer. The MoneySend services work together:

  • Transfer - Submits funding transactions, payment transactions and reversals. Transactions can be submitted real-time or in a batch file.
  • PAN Eligibility - Determines if a receiving card is eligible for MasterCard MoneySend and provides information about sending and receiving cards such as issuer, brand, product type, country, and currency.
  • Card Mapping - Provides interoperability between issuers, so a customer of an Originating Institution can transfer money to a customer of a Receiving Institution without the recipient disclosing his or her personal account number to the sender.

    MoneySend Sample User Registration

For example, the PAN eligibility and card mapping services can add value to user registration during a MoneySend transaction. Incorporating an eligibility check into the process lets your customer know immediately if there is an issue with registration and reduces potential back office expense from having to contact your customer after the fact. The card mapping service can help allay your customers' privacy concerns.

MoneySend Transaction Flow

The three APIs work well together to provide a seamless customer experience and a valuable service to your customer.

How Do I Get Started?

Enrollment and Participation

For MasterCard Members
If you are a MasterCard financial institution member, please refer to the MoneySend Global Platform Guide on MasterCard Connect for more information on processing MoneySend transactions.

For Non-Financial Institutions
You will need to partner with a MasterCard financial institution customer to acquire MoneySend transactions and discuss whether you are performing the role of a service provider for them. If you are, the MasterCard financial institution customer will need to register your company as their Service Provider (SP) pursuant to the MasterCard Rules to provide acquiring processing services. This step must be completed prior to launching your MoneySend payments service.

Delivering a Production-Ready Application

As a developer, you may develop and test your application in the Developer Zone sandbox at any time. However, to use the MoneySend services to facilitate actual transactions, the participating financial institution and you must complete the following steps:

  1. Find an Originating Institution partner who will acquire the MoneySend transactions.
  2. The Originating Institution enrolls for MoneySend by signing and submitting the MasterCard MoneySend Participating Institution Registration Form (Form 1060). This form must be completed, submitted, and approved by MasterCard before a member may commence any activity as an Originating Institution or Receiving Institution. Forms are available on the Member Publications page on MasterCard Connect.
  3. Submit the MasterCard MoneySend API Enrollment Form (Form 1141).
  4. Ensure your Originating Institution partner registers you as a Service Provider (SP), if applicable.
  5. The Originating Institution must code to the MoneySend Single or Dual Message specification for issuer processing if it has not already done so and will be set up to acquire MoneySend transactions on Single Message. All HTTP requests must add an OAuth Authorization Header.
  6. When your testing in the sandbox is complete, have the Originating Institution contact its MasterCard Account Representative to conduct Single or Dual Message testing and MoneySend API testing with MasterCard's Customer Implementation Services (CIS) team. The MasterCard Account Representative will make sure all requirements (outlined in steps 2-4) have been met to begin testing with CIS.
  7. CIS schedules time with the Originating Institution and SP to test. CIS will certify the Originating Institution for processing MoneySend Funding and Payment transactions, and the SP as an acquirer processor for MoneySend using the MoneySend APIs.
  8. When testing is complete, you'll be certified to move to Production.

How Much Does It Cost?

For information about MoneySend pricing, please contact your Originating Institution partner.

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