Mastercard partners with Checkout.com and Young Platform to launch Mastercard SendTM in Italy

Announced during Money 20/20 Europe, this solution will allow Italian consumers to leverage instant payments to manage digital currency wallets – giving them greater control and convenience.

Milan, June 8, 2022 – Mastercard has today announced that Mastercard Send^TM – which allows people to make near real-time payments to cards worldwide – is now available in Italy. The expansion results from ongoing collaboration between Mastercard, ecommerce platform Checkout.com, and Italian cryptocurrency exchange Young Platform.

Mastercard announced the expansion at Money 20/20 Europe, the region’s largest fintech event taking place in Amsterdam, The Netherlands, this week. With Mastercard Send^TM, people can pay and transfer funds simply and conveniently, in near real-time, whether they are using a banking app, payment portal or gig platform. This means Italian users of digital currency wallets will now be able to enjoy safe and secure transfer of funds to credit, debit and prepaid Mastercard cards in near-real time, giving them control, convenience and peace of mind.

Through its integration with Mastercard Send^TM, Checkout.com enables Young Platform to widen the withdrawal options available for its customers. Young Platform users will now be able to receive funds in real-time on their cards and use those at any Mastercard point of sale in the world, benefitting from the security, easiness, and accessibility advantages that coming with using the Mastercard network.

The launch of Mastercard Send^TM in Italy responds to the transition to digital that is now impacting consumer expectations and preferences for payment solutions. According to the Mastercard New Payments Index 2022, over half (51%) of Italians increased their usage of digital assets – such as cryptocurrencies – in the last year and 60% people feel ready to use them more in the future. This highlights the demand for digital developments that enable people to transfer funds instantly and internationally through their favorite tool and channel.

“Payment tools reflect a more digital consumer lifestyle, and we recognise the need to address evolving needs, such as people’s wish to pay with their devices, wherever they are, in real time,” said Michele Centemero, Country Manager Italy Mastercard. “We are happy to announce our collaboration with Checkout.com and Young Platform, as it will allow us to further develop our multi-rail strategy in Italy and offer more choice to consumers without compromising flexibility and security. Our strategy has always been aimed at guaranteeing constant value and meeting the non-stop demands of consumers’ everyday lives. With the expansion of Mastercard Send^TM, we can support the acceleration towards a digital Italy and promote a smarter way of living.”

“Businesses operating at the forefront of innovation need frictionless ways to move money at scale,” said Jess Houlgrave Head of Crypto strategy for Checkout.com. “As a strategic partner to Mastercard, we are delighted to help unlock Mastercard Send^TM in Italy – driving immense value for merchants and consumers alike. Young Platform is a great use case for the power of this solution and lowers the barrier to entry for millions of Italian consumers to trade crypto.”

“We are delighted to have the opportunity – as first market players – to test innovative products in partnership with organisations such as Mastercard and Checkout.com,” added Andrea Ferrero, CEO and Co-Founder of Young Platform. “For Young Platform, user experience comes always first and, through this integration, the consumer will be able to transfer his cash from the platform straight to his payment card and spend it immediately without any waiting time”.

Now available in more than 100 markets worldwide, Mastercard Send^TM is one of the ways in which Mastercard grants consumers speed, choice and flexibility without compromising on security and control.

Mastercard Send is part of Mastercard’s multi-rail solution portfolio, empowering people with flexibility and control. It is an integral part of Mastercard’s mission to connect and power an inclusive, digital economy to benefit everyone, everywhere by making transactions safe, simple, and accessible.

To find out more about Mastercard Send^TM please visit: https://b2b.mastercard.com/mastercard-send/