MasterCard partners with DHgate to offer MasterPass in China

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 Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term. 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.

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 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, 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.