MasterCard is taking on PayPal with a mobile payment app of their own. Mastercard today launched MoneySend mobile payment app for BlackBerry smartphones. MoneySend lets MasterCard owners "Send," "Pay," or "Request Funds" person-to-person using their BlackBerry smartphone. Currently the app is for users in the US only.
MoneySend sure seems like a nice idea but beware of the numerous fees to use the software. Signing up is free, but MasterCard is charging $0.29 to send up to $50 to another account, and $0.99 to send amounts between $50 and $200. For amounts over $200 it costs $2.95.
Currently you can transfer money from your MoneySend account to your bank account, but MasterCard will charge for that service in the future.
If you are on a platform besides BlackBerry, you can use your mobile browser to send money to and from MoneySend.
MoneySend sure seems like a nice idea but beware of the numerous fees to use the software. Signing up is free, but MasterCard is charging $0.29 to send up to $50 to another account, and $0.99 to send amounts between $50 and $200. For amounts over $200 it costs $2.95.
Currently you can transfer money from your MoneySend account to your bank account, but MasterCard will charge for that service in the future.
If you are on a platform besides BlackBerry, you can use your mobile browser to send money to and from MoneySend.
