Mastercard launched Mastercard Wallet Pay, a global digital wallet solutions portfolio supporting contactless NFC, QR code and online digital payments. The service is designed to improve interoperability across wallets, platforms and payment methods.
Mastercard said global digital wallet users now exceed 4.3 billion and are expected to surpass 6 billion by 2030. Wallet Pay enables wallet providers to launch credit, debit or prepaid card programs and supports fast transfers between cards, wallets and accounts across more than 200 countries and territories, 150 currencies, and hundreds of millions of acceptance and digital access points.
Initial participants include Alipay+ partner wallets AlipayHK, Clip, GCash, KakaoPay, TNG eWallet and TrueMoney, as well as AXIAN, CRED, DaviPlata, Mercado Pago, MTN and TenPay Global.
Mastercard Launches Wallet Pay for Global Digital Wallet Users
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