Alipay partners with Mastercard to bring new payment method

Through an enhanced partnership in providing advanced electronic payment solutions for both consumers and merchants established in 2019, Alipay and Mastercard’s new service offers international travelers a secure, convenient, and local payment method when traveling across China, no matter where in the world their Mastercard is issued.

Cardholders simply link their existing Mastercard credit or debit card to their Alipay e-wallet without creating or recharging a prepaid account.

Alipay partners with Mastercard to bring new payment method - 1 — Steps to link card on Alipay wallet.

By choosing to pay cashless on mobile devices at tens of millions of Alipay acceptance points nationwide with QR codes as the most popular form of payment, Mastercard cardholders around the world can transact easily and conveniently in China, just like a local.

According to the Mastercard Economics Institute's fourth annual travel report, Travel Trends 2023, the global travel industry is recovering, with leisure travel bookings in March 2023 up about 31% year-on-year, driven by high-income consumers. Popular tourist destinations, including mainland China, are expected to benefit greatly from this trend.

“ The new Alipay and Mastercard service will not only provide a better experience for international tourists visiting China, but also open up more business opportunities for merchants on the Alipay open platform, amid the rapid growth of global tourism ,” said Venetia Lee, General Manager of Ant Group Greater China International Business .

For merchants, especially small and medium-sized businesses, the Alipay-Mastercard partnership gives them more opportunities to transact with international customers, while international tourists will have access to the most widely accepted payment method in China, allowing them to travel easily and hassle-free.

Thanks to the Mastercard Payment Gateway Services (MPGS) platform, international transactions completed on the Alipay e-wallet are processed through Mastercard’s omnichannel payment platform, allowing merchants – large or small – to easily accept payments from anywhere in the world, helping businesses grow and ensuring consumers have safe and secure transactions whether at home or abroad.

Bao Anh

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