Mastercard is speeding up efforts to modernise cross-border remittance systems using AI and stablecoins. The strategy is to support banks and fintech companies so they can link various payment networks to make transfers faster and lower costs.

Fintech Futures reported on Oct. 12 that Pratik Khowala (프라틱 코왈라), global head of Mastercard Transfer Solutions, pointed to speed, accuracy, trust and cooperation as key to innovation in international remittances in an interview at the financial industry event Sibos 2026 held in Miami.

Khowala cited long processing times and opaque fund movements as problems with existing international remittance methods. He explained that it is hard to meet customer expectations with a system in which, days after a transfer, customers still do not know where the money is or how much the recipient will receive.

To address this, Mastercard is expanding its fund transfer platform Mastercard Move. The goal is to broaden choice for senders and recipients by linking bank accounts and e-wallets, and fiat currencies and stablecoins, across various payment networks.

The key is a multi-rail strategy that selects an appropriate route among multiple payment networks. Mastercard plans to provide banks and fintech companies with a decision engine that determines efficient transfer routes and to combine it with additional functions such as payment tracking, fraud risk assessment and settlement.

AI will be used to improve the accuracy of risk assessments related to sanctioned transactions and anti-money laundering (AML). Stablecoins were presented as a way to reduce the cost of securing liquidity needed for international remittances by using their ability to move 24 hours a day.

Mastercard plans to extend the operational experience and trust it has built in its existing card payment network to the international remittance market. However, because regulations and payment infrastructure vary by country, the actual service scope and cost-saving effects may differ depending on the deployment environment.