MasterCard partners with Construction Bank to bring MasterPass to China
MasterCard is releasing its Digital Wallet Digital Wallet A digital wallet is a popular mechanism referring to an electronic device, online service, or software program that allows one party to make electronic transactions with another party.This involves the bartering or exchange of digital currency, including cryptocurrency for goods and services. Money can be deposited in the digital wallet prior to any transaction, which also includes an individual's bank account that is linked to the digital wallet. A digital wallet can include more than just digi A digital wallet is a popular mechanism referring to an electronic device, online service, or software program that allows one party to make electronic transactions with another party.This involves the bartering or exchange of digital currency, including cryptocurrency for goods and services. Money can be deposited in the digital wallet prior to any transaction, which also includes an individual's bank account that is linked to the digital wallet. A digital wallet can include more than just digi Read this Term service MasterPass in China in cooperation with Chinese bank China Construction Bank.
MasterPass will integrate the service within Construction Bank’s own existing wallet platform LongPass. The service, similar in other regioins will allow its users to aggregate numerous payment methods, not only MasterCard details, and is available for PCs, smartphones, and tablets.
The fact MasterPass utilizes existing payment methods means it should not be affected by the new restrictions Chinese banks are imposing on mobile payment methods such as AliPay and WeChat.
"With increasing levels of consumption, this new digital service will bring more value to key stakeholders. It is our pleasure to work with MasterCard to launch MasterPass in China, to provide our customers a faster, more secure, and more convenient payment experience,” stated Duan Chaoliang, China Construction Bank’s credit card center general manager.
MasterPasss was introduced just over a year ago in February 2013 and is available in the US, Canada, Australia, Italy, and the UK, among other regions.
China Construction Bank with LongPass are the first to utilize MasterPass in China.
MasterCard is releasing its Digital Wallet Digital Wallet A digital wallet is a popular mechanism referring to an electronic device, online service, or software program that allows one party to make electronic transactions with another party.This involves the bartering or exchange of digital currency, including cryptocurrency for goods and services. Money can be deposited in the digital wallet prior to any transaction, which also includes an individual's bank account that is linked to the digital wallet. A digital wallet can include more than just digi A digital wallet is a popular mechanism referring to an electronic device, online service, or software program that allows one party to make electronic transactions with another party.This involves the bartering or exchange of digital currency, including cryptocurrency for goods and services. Money can be deposited in the digital wallet prior to any transaction, which also includes an individual's bank account that is linked to the digital wallet. A digital wallet can include more than just digi Read this Term service MasterPass in China in cooperation with Chinese bank China Construction Bank.
MasterPass will integrate the service within Construction Bank’s own existing wallet platform LongPass. The service, similar in other regioins will allow its users to aggregate numerous payment methods, not only MasterCard details, and is available for PCs, smartphones, and tablets.
The fact MasterPass utilizes existing payment methods means it should not be affected by the new restrictions Chinese banks are imposing on mobile payment methods such as AliPay and WeChat.
"With increasing levels of consumption, this new digital service will bring more value to key stakeholders. It is our pleasure to work with MasterCard to launch MasterPass in China, to provide our customers a faster, more secure, and more convenient payment experience,” stated Duan Chaoliang, China Construction Bank’s credit card center general manager.
MasterPasss was introduced just over a year ago in February 2013 and is available in the US, Canada, Australia, Italy, and the UK, among other regions.
China Construction Bank with LongPass are the first to utilize MasterPass in China.