Mastercard and Alipay Join Forces with Real-Time Remittance
(21 March 2024 - China) Using the Mastercard Move solution, Alipay’s 1 billion users in China can now transfer money and make payment transactions in near real-time to over 180 markets and 150 currencies.
Mastercard Move reportedly reaches nearly 10 billion endpoints worldwide, including bank accounts, card, wallet, and cash payout locations, the payments network giant said in a joint news announcement with Alipay.
The connection between the two payment firms is an important addition to Mastercard’s international payments offering, said Alan Marquard, Mastercard’s head of transfer solutions.
“Disbursements and remittances are a key area of growth for Mastercard, and the company continues to develop its solutions across geographies, always with the objectives to make payments faster, safer and more convenient and to foster financial inclusion,” Marquard said.
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