Mastercard, Buna join forces to offer unique cross-border payments in MENA
Updated 11/6/2024 6:24:00 PM
Arab Finance: Mastercard and the Arab Regional Payment System, Buna, have joined forces to offer businesses and consumers faster, cheaper, and more transparent cross-border payments into and out of the MENA region, as per an emailed press release.
The public-private collaboration enables financial institutions worldwide to send fast, transparent and cost-efficient payments to Buna participants via a single connection to Mastercard Move.
Buna participants will be capable of leveraging their existing Buna infrastructure to connect to Mastercard Move for faster, more secure, and efficient payments to regions and corridors outside MENA.
With its extended operating hours and Instant Payments System’s 24/7 availability, Buna’s Real-Time Gross Settlement service offers a unique advantage for direct participants.
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