Mastercard and Florida Capital Bank Deliver Real-Time Disbursements

Today Mastercard announced that it is partnering with Florida Capital
Bank, N.A. to facilitate efficient, near real-time disbursements of
funds to all branded debit cards in the U.S. by integrating Mastercard
Send.

Through this partnership, Mastercard Send will provide Florida Capital
Bank corporate partners the platform to send payments to cardholders
within minutes through FLCB InstantMoney. The solution will enable
instant push to card payments across networks and brands to ensure
customers get the funds seamlessly and securely.

“We are excited to work with Florida Capital Bank and address a real
need that exists in today’s digital payments world,” said Jess Turner,
EVP, Digital Payments and Labs, Mastercard. “With Mastercard Send we are
modernizing the way money is received and enabling banks to deliver a
superior user experience to both their consumer and corporate customers.”

Mastercard Send, a first-of-its-kind platform that facilitates funds to
be sent quickly and conveniently via debit networks, will allow Florida
Capital Bank to provide corporate partners the additional value of
delivering their customers with immediate and seamless disbursements.

“We are happy to partner with Mastercard, and we are excited to offer
FLCB InstantMoney to facilitate faster payments,” said Bob Higel, Senior
Vice President of Electronic Payments and Risk Management for Florida
Capital Bank. “This product will provide a huge benefit to any company
that performs a large volume of disbursements for their consumers who
require faster payments.”

Mastercard Send helps power some of the industry’s most innovative
payment products. For developers, Mastercard provides financial
institutions with an easy-to-use API,
one of more than 35 APIs available through the Mastercard
Developers portal. Backed by the Mastercard network, banks further
benefit from simplified settlement as well as Mastercard’s network and
compliance expertise.

About Florida Capital Bank

Florida Capital Bank, N.A. (FLCB) is a Jacksonville-based bank with
branches in Jacksonville, Orlando, Gainesville, and the Tampa Bay areas.
Since 2004, Florida Capital Bank has been providing business and
personal banking solutions that blend sophisticated technology and a
commitment to personalized customer service. FLCB specializes in
electronic payment solutions, deposit accounts, commercial lending with
SBA and USDA options, business advisory services, and residential
mortgages. To learn more, visit FloridaCapitalBank.com.

About Mastercard

Mastercard (NYSE: MA), www.mastercard.com,
is a technology company in the global payments industry. Our global
payments processing network connects consumers, financial institutions,
merchants, governments and businesses in more than 210 countries and
territories. Mastercard products and solutions make everyday commerce
activities – such as shopping, traveling, running a business and
managing finances – easier, more secure and more efficient for everyone.
Follow us on Twitter @MastercardNews,
join the discussion on the Beyond
the Transaction Blog and subscribe
for the latest news on the Engagement
Bureau.

View source version on businesswire.com: https://www.businesswire.com/news/home/20180710005612/en/

Leave a Comment