MasterCard Expands MasterPass Service Into China

Hoping to leverage the nation’s increasingly mobile consumer base, MasterCard is launching its MasterPass mobile payments service in China, The Global Times reported on December 9.

Ling Hai, MasterCard’s president of Greater China, told The Global Times in an interview that China offers the company a wealth of opportunity.

“You can view MasterPass as an open-system platform. It supports different wallets, customers and carriers with our interface with multiple participants including banks, merchants, and third parties,” Ling explained.

For insights into how China’s payments landscape is evolving, read MPD CEO Karen Webster’s commentary on the topic by clicking here.