May 29, 2024

Burgan Bank-Mastercard Partnership unveils swift global transfer service


Burgan Bank in association with Mastercard has recently launched the new Fast International Transfer service in Kuwait for offering swifter and secure cross-border remittances across the globe. According to Burgan Bank officials, this latest service is a step forward toward Bank’s long-term transformation plan aiming at integrating more cutting-edge digital services and fintech solutions to enhance its customers’ banking experience.

Burgan Bank’s report added that via this partnership with the Mastercard Cross Border Services, known as “Mastercard Send”, Burgan Bank will enable its customers to make instant, secure, and seamless international payments at any time and from anywhere through the Bank’s website or mobile app. Burgan Bank claimed that this feature also signifies a huge transfer service milestone, connecting more than 25 Nations with different currencies comprising Egypt, the United Kingdom, Bangladesh, Sri Lanka, the Philippines, Pakistan, Singapore, Thailand, and the EU countries.

Burgan Bank and Mastercard also explained that this swift global transfer service benefit comprises transparent transfers with no hidden fees, competitive foreign exchange rates, payment tracking, and fast and secure transfers in compliance with the highest global security standards.

Mr. Deniz Cengiz, Group Chief Digital Banking Officer at Burgan Bank commented regarding the unveiling of the latest services stating: “Partnering with Mastercard allows us to offer our customers the intrinsic benefits of faster cross-border remittances, which we know are essential for financial inclusion and participation in the digital economy. Thanks to the use of Mastercard’s Cross Border platform, our customers are now able to seamlessly send funds internationally, in real-time, and in the most secure way possible.”

Mr. Sudhir Iyer, Vice President, Cross Border Services, EEMEA (Eastern Europe, Middle East & Africa) at MasterCard

About the partnership with Burgan Bank, Mr. Sudhir Iyer, Vice President, Cross Border Services, EEMEA (Eastern Europe, Middle East & Africa) at MasterCard, declared “By teaming up with Burgan Bank in Kuwait, Mastercard Cross Border Services can deploy the simplest, safest and most secure international transfer technology for consumers in Kuwait.”

Iyer added “The new Fast International Transfer service provides 24/7 access to seamless real-time remittances to more than 25 countries via the Bank’s online and mobile platforms. This is a real game-changer in our pursuit of transparent and secure money transfers, and a major boost to the growth of the digital economy and financial inclusion in our region. Cross border payments can now be delivered much faster with many endpoints enabling near real-time fund delivery.”

Industry sources confirmed further explaining that the unveiling of the latest Fast International Transfer service supports Burgan Bank’s strategic development plan, which seeks to ensure the delivery of more convenient and innovative digital solutions in line with customers’ needs and lifestyles.




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