Mastercard today launched Mastercard Pay Local, a global service that seamlessly connects consumers and merchants by allowing consumers to make card-based payments using local digital wallets. Mastercard cardholders can simply link their credit or debit cards to a participating local digital wallet to shop at merchants without needing to set up or top up a prepaid account.
Leading wallets in Asia Pacific, such as DANA in Indonesia, Touch ‘n Go in Malaysia, Bakong in Cambodia, and LankaPay in Sri Lanka, will leverage Mastercard Pay Local to allow consumers to make payments at more than 35 million merchants that accept these wallets. The service is also geared towards markets where digital wallets are widely used for everyday purchases, such as Latin America, Eastern Europe, the Middle East and Africa.
Mastercard Pay Local builds upon existing partnerships with leading wallet providers, including Alipay and Weixin Pay in the Chinese Mainland and Octopus in Hong Kong SAR, to offer a convenient way for international visitors to pay like a local when traveling to these destinations, regardless of where in the world their Mastercard card was issued.
Mastercard Pay Local benefits everyone involved:
- Hundreds of millions of micro-, small and medium enterprises (MSMEs) can experience increased reach with minimal infrastructure investment or disruptions to their operations.
- Wallet operators can extend their customer base by attracting individuals who primarily use cards, provide a smooth consumer experience and achieve quicker time to market.
- Card issuers can deliver more points of acceptance for the consumers they serve.
- Residents can pay the MSMEs who do not accept traditional card payments, and tourists can experience convenient, seamless payments across the destinations they’re visiting.
“Mastercard continues to set new standards for the payments industry by offering global solutions that make a local impact,” said Jorn Lambert, chief product officer at Mastercard. “Our work with domestic networks and alternative payment methods underscores our dedication to delivering meaningful innovation. With Mastercard Pay Local, we are expanding the boundaries of acceptance.”
Today, a range of digital wallets already accept Mastercard to fund digital wallets domestically and pay at merchant locations that accept these wallets, including GrabPay in Southeast Asia, Maya in the Philippines, ShopBack in Singapore, TrueMoney in Thailand, and Mercado Pago in Argentina.
In regions such as Eastern Europe, the Middle East and Africa, Mastercard is currently partnering with wallet and mobile operators such as MTN Fintech, Airtel Africa, JazzCash, and M-Pesa to significantly increase the number of acceptance points for travelers and non-wallet holders.
To learn more about Mastercard Pay Local and how it can enhance businesses, please visit the information page and fill out the form. A member of the Mastercard team will contact interested parties with more details.
Hear from our partners:
DANA, Indonesia:
“At DANA, we are committed to enhancing the accessibility and convenience of digital payments for all users. By collaborating with Mastercard, we are excited to offer international travelers a seamless way to register and bind their cards to DANA, furthering our mission of bridging financial inclusion across borders. This partnership reflects our dedication to improving user experience and supporting global financial mobility as we anticipate increased international travel,” said Darrick Rochili, chief innovation officer of DANA.
Touch ‘n Go, Malaysia:
“As Malaysia’s leading digital wallet and financial services provider, we are proud to have expanded our services beyond national borders, enabling users to travel cashless and make seamless payments internationally. Our collaboration with Mastercard underscores the strength of our open platform strategy, allowing us to extend cashless payment solutions to international travelers visiting Malaysia, contributing to the country’s tourism industry and economy. We are pleased to offer inbound tourists the convenience of cashless transactions via QR payment at over 2 million merchants, retail outlets, and service providers across Malaysia,” said Alan Ni, CEO at TNG Digital.
