Mastercard works with Tencent and Ant Financial to enable new payments choices across China for international visitorsNovember 7, 2019 | Beijing | By Barkha Patel
Mastercard today announced it is working with Tencent and Ant Financial, China’s two leading fintech companies, to expand choices and empower international travelers with Mastercard cards to pay via WeChat Pay and Alipay in China.
This is to provide travelers, holding 2.6 billion Mastercard cards around the world, with the ability to make simple and smart payments anytime, anywhere in China, with a particular focus on solving for key tourist pain points such as paying for high-speed train and other tourism-related tickets, taxi rides, and groceries without the burden of needing to carry or use cash.
This collaboration with Tencent and Ant Financial is another key milestone towards achieving our “a world beyond cash” vision and attests to our long-term commitment to helping China boost inbound tourism and being an active partner in helping domestically establish an international, interoperable and highly advanced payments ecosystem.
According to the recently released Mastercard Global Destinations Index 2019, besides retaining its position as the top origin market for travelers globally, China is also growing as an important destination market. 41 out of the 161 most popular destinations in Asia Pacific are located in China, attesting to the growing volume of international tourists with their eyes set on visiting China.
About Mastercard (NYSE: MA)
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.