Mastercard announced the launch of Mastercard Wallet Pay, a global portfolio of payment solutions designed to improve interoperability for digital wallets across contactless payments, QR codes, and online commerce. The launch comes as digital wallets serve more than 4.3 billion users worldwide, with global usage projected to surpass 6 billion users by 2030.
Digital payment providers using or collaborating around Wallet Pay include Alipay+ and partner wallets AlipayHK, Clip, GCash, KakaoPay, TNG eWallet, and TrueMoney, along with Axian, CRED, DaviPlata, Mercado Pago, MTN, and TenPay Global.
Mastercard said Wallet Pay is designed to give wallet providers access to its global payments network while enabling new payment use cases without requiring significant changes to existing infrastructure.
The portfolio supports cross-border wallet interoperability, card issuing, online and in-person merchant acceptance, money movement, and financial inclusion. Mastercard said more than 3.7 billion Mastercard credentials can connect with digital wallets through its infrastructure.
Wallet Pay also enables transfers between cards, wallets, and bank accounts across more than 200 countries and territories and 150 currencies.
For wallet providers, Mastercard Wallet Pay can support the launch of credit, debit, and prepaid card programs, creating potential new revenue streams while expanding how customers use their digital wallets.
Mastercard is also positioning the platform as infrastructure for broader international wallet acceptance. Alipay+, for example, connects more than 50 e-wallets and banking apps and over 10 national payment schemes worldwide, helping its wallet partners connect with Mastercard Wallet Pay at scale.
The initiative is intended to make local digital wallets more useful internationally by allowing consumers to access familiar payment experiences when traveling, while helping wallet operators extend their services to Mastercard’s global acceptance network.
Several participating providers are already using the infrastructure for regional and cross-border expansion. DaviPlata, for example, said an initiative developed with Mastercard helped it reach 1.5 million active digital debit cards within 15 months, while its card can now be linked to Apple Pay and Google Pay.
TenPay Global also plans to use the collaboration to connect international digital wallets with the Weixin Pay merchant network, allowing international visitors to use their home wallets for QR-code payments at tens of millions of merchants in mainland China.
Mastercard said Wallet Pay builds on its broader efforts to expand digital financial access and improve interoperability as wallets evolve from basic payment products into platforms for payments, money movement, and broader financial services.
KEY QUOTES:
“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.”
Jorn Lambert, Chief Product Officer at Mastercard
“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.”
Peng Yang, CEO of Ant International
“TenPay Global, Tencent’s cross-border payment platform, is committed to working with global partners such as Mastercard Wallet Pay to build a more open and inclusive global payment network together. We believe the next phase of borderless payments will be driven by greater interoperability and deeper ecosystem collaboration. We will work with Mastercard to further connect international digital wallets with the Weixin Pay merchant network. Through this collaboration, international visitors will be able to use their home wallets to make QR code payments at tens of millions of Weixin Pay merchants in the Chinese mainland, offering them a familiar and convenient way to pay.”
Wenhui Yang, CEO of TenPay Global (Singapore)
