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MasterCard and Western Union have teamed up to simplify cross-border trade for small and midsize businesses. Customers of the organizations’ new international payments service will have access to a dedicated foreign-payments portal on the MasterCard Business Network. Through this portal, they will be able to send payments in more than 135 currencies directly from their bank account to a foreign recipient’s account. Western Union Business Solutions will provide the foreign exchange (FX) functionality underlying the transactions. The customer portals will offer real-time quotes and transparent FX pricing, according to MasterCard and Western Union.

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