Mastercard Reiterates Commitment to China

Mastercard today reiterated that its commitment to China remains steadfast.  It continues to make every effort to secure the requisite license to be able to access China’s domestic market.  It confirmed that it is in active discussions to explore different solutions.  In this regard, it hopes to be able to present another application for the bankcard clearing license in the very near future.

“Forming trusted partnerships remains a cornerstone of our operating philosophy around the world, and our approach in China is no different,” said Ling Hai, co-president, Asia Pacific at Mastercard. “China remains a vital market for us and we look forward to working with the Chinese government and local partners in growing and developing the overall payments ecosystem in the long-term. We believe our participation here will be beneficial to the country and its people. We are committed to improving the safety, security and convenience of payments in day-to-day life, which is a key priority for China.”