Mastercard and Dream Payments speed up insurance payments

Mastercard  announced a global partnership with Canadian-based Dream Payments aimed at getting insurance customers paid quickly, simply and securely. Northbridge Financial, a Fairfax company, will be the first insurance provider in Canada to use the Mastercard Send platform through the Dream Payments Hub, followed by international markets.

Mastercard Send is a global push payments platform designed to work with banks, businesses, digital players, governments and money transfer services, helping them to modernize the way they send money, both domestically and cross-border.

Both Mastercard and Dream Payments share a vision where insurance policyholders will receive fast payments into any payment card or account, when they need it most.