(Updates with the companies' statement in the first two paragraphs and more details in last paragraph.)

Mastercard (MA) is helping remittance company MoneyGram with some of the payments company's international transactions, the companies said Wednesday.

MoneyGram customers with US-issued Mastercard cards can use the Mastercard Move service to send funds and make near real-time payments across international borders initially to 38 markets, according to the statement.

The service will allow near real-time transfer of funds to bank accounts, mobile wallets, Mastercard cards, and cash pick-up points, the companies said.

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