"Mastercard has entered an agreement with BMO Bank of Montreal to implement Mastercard Send, which will allow faster cross-border payments for its Canadian-based business and commercial banking clients, according to a company release. Mastercard Send will allow the bank to move cross-border payments to bank accounts in more than 75 countries worldwide. Initially focused on bank accounts, the service eventually will allow payments to mobile wallets and card accounts, as well."
Fintech startups have begun a phenomenon some call the “unbundling of financial services” through standalone products such as unsecured consumer loans, credit cards, checking and savings accounts, or personal financial management tools. A cohort of entities known as “challenger banks” or “neo-banks” have also entered the market in an attempt to take on digital banking […]