Payment giant, Mastercard has tied-up with Alipay to deepen cross-border solutions.
The card network in a media release said that consumers increasingly look for ways to send money across the globe quickly and securely. It added, insights from Mastercards Borderless payments report reveal that 68 percent of consumers would make more online cross-border payments if they were faster.
“MasterCard’s connection to Alipay, an app serving over 1 billion users in China, is an important addition to its international payments offering, enabling its bank, fintech and corporate customers globally to offer their customers a connection to this popular e-wallet in near real- time,” said Alan Marquard, Head of Transfer Solutions at Mastercard.
“Disbursements and remittances are a key area of growth for Mastercard, and the company continues to develop its solutions across geographies, always with the objectives to make payments faster, safer and more convenient and to foster financial inclusion,” Marquard added.
Using Mastercard’s portfolio of international money transfer solutions, MasterCard Move, participating financial institutions can offer their customers international payments to over 180 markets, including a global payout network of over 150 currencies that reaches 95% of the world’s banked population
