Mastercard Launches Wallet Pay Solution for 4.3 Billion Digital Wallet Users Worldwide

Mastercard has launched its global digital wallet solution suite, Mastercard Wallet Pay, which supports contactless (NFC), QR code, and online digital payments, aiming to enhance interoperability among different wallets, platforms, and payment methods. The number of digital wallet users worldwide has surpassed 4.3 billion and is expected to exceed 6 billion by 2030. Wallet Pay can assist wallet service providers in launching credit card, debit card, or prepaid card programs, and supports fast transfers between cards, wallets, and accounts, covering over 200 countries and regions, 150 currencies, and millions of acceptance points and digital access points. The initial participants include Alipay + partner wallet AlipayHK, Clip, GCash, KakaoPay, TNG eWallet, and TrueMoney, as well as AXIAN, CRED, DaviPlata, Mercado Pago, MTN, and TenPay Global.

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