With this new MasterCard app, you can now send and receive money more easily via your iPhone or iPad. The MoneySend app is free to download from the iPhone app store, though it currently only works in US.

iPhone and iPad users can now send and receive money more conveniently with the new MasterCard MoneySend app. But only in the US.

The MoneySend app allows you to perform everyday services including payment to your child who is low on funds, or someone paying back a loan. According to sources, MoneySend has to be linked to a MasterCard debit, credit, or prepaid account from a bank that offers the service, in order for the app to work properly.

Source: PC World