Mastercard and Florida Capital Bank Deliver Real-Time Disbursements

Florida Capital Bank integrates Mastercard Send to enable faster disbursement funds

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. Mastercard Send is available as an easy-to-use API 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.

Source: Mastercard