When it comes to card-based money transfer solutions, our partners often ask about three specific products: payouts to cards, eCommerce transactions, and card-to-card payments. This article will explain the key differences between these three methods and help you choose the right one for your needs.
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Here are three common use cases to consider: The first scenario involves topping up user accounts within your platform. The second use case involves payouts to cards, where users have existing funds within an account on your platform and need to send payments directly to any card worldwide. But if you simply want to offer a service where users can send money directly from one card (Mastercard or VISA) to another (of any type), then our card-to-card product is the best option. Let's take a look at the three scenarios.
Use Case 1: Topping Up User Accounts
In this scenario, you have a user account system within your platform. Your users need a way to reload these accounts with money. While various transfer methods might exist, if you want users to reload their accounts using Mastercard or VISA cards, then you should enable eCom transactions. This process involves registering you as a merchant with our partnering acquirers, allowing your users to make payments using cards, Apple Pay, Google Pay, or other similar options.
Use Case 2: Payouts to Cards
Imagine your users have an account on your platform with existing funds. You need a way to enable them to send payments directly from their account to any card worldwide. This type of money transfer is typically very fast, often happening in less than 30 minutes. For this use case, you'll want to utilize our "Payouts to Card" product. This option allows your users to transfer funds directly to any Mastercard or VISA card.
Use Case 3: Card-to-Card Transfers
Let's say you don't have a user account system and don't store user funds. Instead, you simply want to offer a money transfer service where users can send money directly from one card (Mastercard or VISA) to another (Mastercard, VISA, or any combination). In this case, our card-to-card product is the ideal solution.
Choosing the Right Money Transfer Solution
It's important to select the product that best aligns with your specific use case. Each of these three options comes with different fees and AML (Anti-Money Laundering) requirements. By carefully considering your use case, you can ensure you choose the most appropriate and cost-effective solution for your needs.
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