Saturday, June 5, 2010

MoneySend iPhone App

MasterCard is taking on PayPal with a new app for the iPhone and iPad users, called MoneySend. The free app allows anyone to transfer money to another account in the United States.

MoneySend, which is partly powered by Obopay, allows users in the U.S. to send or request money via an iPhone app through banks and credit unions. Senders and receivers can either use an existing MasterCard account or a bank account. Users can also create a virtual prepaid account through Bancorp Bank that is linked to an existing MasterCard credit card or checking account.

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