After rapid expansion and adoption of its mobile wallet, MasterCard has partnered with Chinese Ecommerce platform provider DHgate to offer MasterPass in China.
MasterPass is an online mobile wallet, able of storing numerous payment card numbers, not only MasterCard cards, giving users the ability to choose payment methods prior to the transaction.
DHgate is the first merchant in China to begin accepting MasterPass. DHgate worked closely with MasterCard to enable small and medium enterprises (SMEs) to strengthen their cross-border ecommerce businesses.
“DHgate is committed to creating an online ‘silk road’ for the new era, developing overseas channels for Chinese SMEs and bringing Chinese products to the world. As a globally renowned international technology company, MasterCard has made great contributions to cross-border payments. MasterPass is a ground-breaking development in cross-border payments, enabling safer, more convenient online transactions, and sustaining Chinese SMEs activities around the world,” Shen Hao, Vice President, DHgate.
ACY Securities Supports ASIC’s Product Intervention OrderGo to article >>
This is not MasterPass’ first entry in China, and in March China Construction Bank commenced use of MasterPass, becoming the first issuer China and Asia to implement MasterPass, within its owsn digital wallet, LongPass.
“With more cross-border e-commerce activities undertaken by SMEs in China, MasterPass provides an innovative payment solution with just a few clicks to facilitate secure and convenient transactions. We are pleased to be working with DHgate to support SMEs in cross-border e-commerce business development,” Dennis Chang, Head of China, MasterCard stated in a press release.
Since its launch in February 2013, MasterPass has garnered acceptance from over 40,000 merchants in 10 markets, including in addition to China, Australia, Canada, Italy, New Zealand, Poland, Singapore, South Africa, The UK and The US.