Mastercard has expanded its cross-border payment solutions with a new connection to Alipay, the Chinese mainland’s leading digital open platform under Ant Group.
The move comes as consumers increasingly look for ways to send money across the globe quickly and securely.
Insights from Mastercard’s Borderless Payments Report reveal that 68% of consumers would make more online cross-border payments if they were faster.
Dennis Chang, Division president, Greater China, Mastercard, said: “China is already one of the largest recipient countries worldwide for international remittances. As global economic activities continue to recover, demand for cross-border payments will only increase. With this new connection, Mastercard is pleased to expand its partnership with Alipay to enable people around the world to easily make international fund transfers to the Chinese mainland in near real-time, simplifying the transaction for senders as well as receivers.”
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