MasterCard looking to tap into Chinese market with MasterPass

Tapping into Chinese market

According to the Global Times MasterCard is looking to tap into the Chinese market’s increasingly mobile consumer base by launching it’s MasterPass service in China. The country offers the company a wealth of opportunity according to MasterCard’s president of Greater China Ling Hai.

“MasterPass hopes to have new Chinese clients, and most will target cross-border business, including merchants and banks. 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”, said Ling Hai, president of Greater China for MasterCard Worldwide.

MasterPass is a free digital wallet service enabling safe online shopping by securely storing the customer’s payment and shipping information in one convenient place. The platform connects wallets – providing banks, retailers and other partners with their own branded MasterPass wallet or ability to connect their proprietary wallet to the MasterPass acceptance network.

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