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With all due respect to Betteridge’s Law, which states that any opinion piece headline that is a yes/no question will invariably be answered no, the answer is… no.
MasterCard Send is a new service that will allow card holders to send money, domestically and internationally, instantly for low cost. Currently operational in the US, the service will allow both banked and unbanked individuals to get payments through deposits to their credit cards, bank accounts, or to payment agents.
This service would seem to be a direct challenge to the rise of virtual currencies like Bitcoin and may in fact be inspired by them. Here are some ways the service will fall short:
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