Mastercard, the global payments and technology company, has launched Mastercard Wallet Pay, a portfolio of solutions designed to help digital wallets scale and connect across contactless, QR code and online payments.
The portfolio brings together Mastercard and a range of digital wallet providers, including Alipay+, the global wallet gateway operated by Ant International, alongside Axian, CRED, DaviPlata, Mercado Pago, MTN and TenPay Global. Alipay+ connects AlipayHK, Clip, GCash, KakaoPay, TNG eWallet and TrueMoney. With digital wallets already serving more than 4.3bn users globally, Mastercard expects that figure to surpass 6bn by 2030.
Wallet Pay is built around five pillars that use cloud-based payment technology and Mastercard’s acceptance network to help providers introduce new services without overhauling their existing infrastructure. The offering is designed to improve interoperability across borders, platforms and payment types while also providing issuing capabilities for providers to launch their own credit, debit or prepaid card programmes.
The portfolio also brings together digital and e-commerce payment capabilities, allowing merchants to accept cards and wallets online and in person. Mastercard said this connects more than 3.7bn Mastercard credentials to digital wallets, while its transfer capabilities are designed to enable faster movement between cards, wallets and accounts across more than 200 countries and territories in 150 currencies.
Wallet Pay also includes tools aimed at underbanked and unbanked consumers in emerging markets, extending Mastercard’s wider focus on financial inclusion. The launch follows the formation of Mastercard’s Global Financial Health Coalition, which brings together digital wallet providers to help narrow the gap between access to financial tools and genuine financial health.
Mastercard chief product officer Jorn Lambert said, “Wallets are gateways to the digital economy and launchpads for broader financial services. Through our Wallet Pay solutions, we’re helping payment providers to enhance the interoperability and user experience of their services, underpinned by trust, scale and convenience for the people and businesses they serve.”
Ant International CEO Peng Yang added, “The Alipay+ ecosystem represents the collective commitment of 50 mobile payment partners, over 10 national QR networks and over 150 million global merchants to transform local payment experiences into a truly borderless digital economy. Together with Mastercard and partners, Ant International looks forward to expanding global interoperability and mobile agentic commerce for people and businesses everywhere to connect and thrive.”
The partnerships are already being used to extend wallet functionality and acceptance across different markets. AlipayHK said the collaboration with Mastercard Wallet Pay and Alipay+ enables NFC payments alongside QR code payments, while Clip said its Mi Clip consumer wallet launched in Mexico with interoperability from day one.
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