{"id":31149,"date":"2024-11-05T01:00:00","date_gmt":"2024-11-05T01:00:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/4547467_AE47467_0"},"modified":"2024-11-05T01:00:00","modified_gmt":"2024-11-05T01:00:00","slug":"mastercard-launches-pay-local-enabling-asias-digital-wallet-providers-to-process-card-payments-from-more-than-2-billion-mastercard-cardholders","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=31149","title":{"rendered":"Mastercard launches Pay Local, enabling Asia&#8217;s digital wallet providers to process card payments from more than 2 billion Mastercard cardholders"},"content":{"rendered":"<table name=\"logo_release\" border=\"0\" cellspacing=\"10\" cellpadding=\"5\" align=\"right\">\n<tbody>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mma.prnasia.com\/media2\/2413701\/Mastercard_Logo.jpg?p=medium600\" border=\"0\" alt title=\"logo\" hspace=\"0\" vspace=\"0\" width=\"118\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p class=\"prntac\"><i>International travelers can now pay like locals at more than 35 million merchants across <span class=\"xn-location\">Asia Pacific<\/span><\/i><\/p>\n<p><span class=\"legendSpanClass\"><span class=\"xn-location\">SINGAPORE<\/span><\/span>, <span class=\"legendSpanClass\"><span class=\"xn-chron\">Nov. 5, 2024<\/span><\/span> \/PRNewswire\/ &#8212; Ahead of the Singapore FinTech Festival, Mastercard today introduced Mastercard Pay Local, a global service that makes it easy for consumers to make card payments to merchants using local digital wallets. With Mastercard Pay Local, resident cardholders or international travelers can easily link their credit or debit cards to a digital wallet and immediately shop at participating merchants, without needing to set up or top up a prepaid account.&nbsp;&nbsp;<\/p>\n<p>Leading wallets in <span class=\"xn-location\">Asia Pacific<\/span>, such as <a href=\"https:\/\/www.dana.id\/\" target=\"_blank\" rel=\"nofollow noopener\">DANA<\/a> in <span class=\"xn-location\">Indonesia<\/span>, <a href=\"https:\/\/www.touchngo.com.my\/\" target=\"_blank\" rel=\"nofollow noopener\">Touch &#8216;n Go<\/a> in <span class=\"xn-location\">Malaysia<\/span>, <a href=\"https:\/\/bakong.nbc.gov.kh\/en\/\" target=\"_blank\" rel=\"nofollow noopener\">Bakong<\/a> in <span class=\"xn-location\">Cambodia<\/span>, and <a href=\"https:\/\/www.lankapay.net\/en\" target=\"_blank\" rel=\"nofollow noopener\">LankaPay<\/a> in <span class=\"xn-location\">Sri Lanka<\/span>, will use Mastercard Pay Local to facilitate payments for consumers at more than 35 million merchants in the region that accept these wallets. Beyond <span class=\"xn-location\">Asia Pacific<\/span>, the service is also geared towards regions where digital wallets are widely used for everyday purchases, such as <span class=\"xn-location\">Latin America<\/span>, <span class=\"xn-location\">Eastern Europe<\/span>, and the <span class=\"xn-location\">Middle East<\/span> and <span class=\"xn-location\">Africa<\/span>.<\/p>\n<p><b>Mastercard Pay Local benefits everyone involved:<\/b><\/p>\n<ul type=\"disc\">\n<li><u>Residents<\/u>&nbsp;can pay the micro, small and medium enterprises (MSMEs) that do not accept traditional card payments, while <u>tourists and international travelers<\/u> can enjoy convenient, seamless payments across the destinations they&#8217;re visiting.<\/li>\n<li>Hundreds of millions of <u>MSMEs<\/u> can experience increased reach with minimal infrastructure investment or disruptions to their operations.<\/li>\n<li><u>Wallet operators<\/u> can extend their customer base by attracting individuals who primarily use cards, providing a smooth consumer experience and achieving quicker time to market.<\/li>\n<li><u>Card issuers<\/u> can deliver more points of acceptance for the consumers they serve.<\/li>\n<\/ul>\n<p>&#8220;With Pay Local, Mastercard is extending its global network to partner wallets and expanding acceptance by making it possible for <span class=\"xn-location\">Asia&#8217;s<\/span> digital wallets to process card-based payments.&nbsp;This creates a low-cost, simple, stable, and secure connection between over 35 million merchants in <span class=\"xn-location\">Asia Pacific<\/span> and two billion Mastercard cardholders,&#8221;&nbsp;<u>said <span class=\"xn-person\">Sandeep Malhotra<\/span>, executive vice president, Products &amp; Innovation, <span class=\"xn-location\">Asia Pacific<\/span>, Mastercard<\/u>. &#8220;Locals benefit from new payment options while tourists can use their cards as they do at home, making travel infinitely easier, with one less thing to worry about while on the road.&#8221;<\/p>\n<p>Pay Local builds upon Mastercard&#8217;s existing collaborations with leading wallet providers, including <a href=\"https:\/\/www.mastercard.com\/news\/ap\/en\/newsroom\/press-releases\/en\/2023\/pay-like-a-local-alipay-and-mastercard-offer-international-travelers-another-convenient-way-to-make-cashless-payments-in-china\/\" target=\"_blank\" rel=\"nofollow noopener\">Alipay<\/a> and <a href=\"https:\/\/www.mastercard.com\/news\/ap\/en\/newsroom\/press-releases\/en\/2023\/pay-like-a-local-mastercard-offers-seamless-payments-for-international-travelers-in-china\/\" target=\"_blank\" rel=\"nofollow noopener\"><span class=\"xn-person\">Weixin Pay<\/span><\/a> in the Chinese Mainland and <a href=\"https:\/\/www.mastercard.com\/news\/ap\/en\/newsroom\/press-releases\/en\/2024\/mastercard-and-octopus-facilitate-more-convenient-payments-for-travelers-to-hong-kong\/\" target=\"_blank\" rel=\"nofollow noopener\">Octopus<\/a> in Hong Kong SAR, to offer a convenient way for international visitors to pay like locals when traveling to these locations, regardless of where in the world their Mastercard card was issued.<\/p>\n<p>In addition, a range of digital wallets across the region already accept Mastercard cards for funding, enabling easy payments at merchant locations that accept these wallets, including <a href=\"https:\/\/www.grab.com\/sg\/consumer\/finance\/pay\/\" target=\"_blank\" rel=\"nofollow noopener\">GrabPay<\/a> in <span class=\"xn-location\">Southeast Asia<\/span>, Maya in the Philippines,&nbsp;<a href=\"https:\/\/corporate.shopback.com\/\" target=\"_blank\" rel=\"nofollow noopener\">ShopBack<\/a> in <span class=\"xn-location\">Singapore<\/span>, and <a href=\"https:\/\/www.truemoney.com\/\" target=\"_blank\" rel=\"nofollow noopener\">TrueMoney<\/a> in <span class=\"xn-location\">Thailand<\/span>.<\/p>\n<p>Businesses that would like to learn more about Mastercard Pay Local should visit the <a href=\"https:\/\/www.mastercard.com\/global\/en\/business\/large-enterprise\/mastercard-pay-local\/contact-us.html?campaign_id=701UH00000IqbFdYAJ&amp;cmp=2024.q4.glo.glo.fis.dir-res.prod.others.acceptance-solutions_mastercard-local-pay_press-release_global_q4_2024.701uh00000iqbfdyaj.otc.txt.others.pressrelease\" target=\"_blank\" rel=\"nofollow noopener\">information page<\/a> and fill out the form. A member of Mastercard&#8217;s team will get in contact with more details.<\/p>\n<p><b>Hear from our partners:<\/b><\/p>\n<p><b>DANA:<br \/><\/b>&#8220;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&nbsp;a seamless way to register and bind their cards to DANA, furthering our mission of bridging financial inclusion across borders. This collaboration reflects our dedication to improving user experience and supporting global financial mobility as we anticipate increased international travel,&#8221; said Darrick Rochili, chief innovation officer of DANA.<\/p>\n<p><b>Touch &#8216;n Go:<br \/><\/b>&#8220;As Malaysia&#8217;s leading digital wallet and financial services provider, we are proud to have expanded our services beyond national&nbsp;borders, enabling&nbsp;users to travel cashless and make seamless payments internationally. Our collaboration with Mastercard underscores the strength of our&nbsp;open platform strategy, allowing us to extend cashless payment solutions&nbsp;to international travelers visiting&nbsp;Malaysia, contributing to the country&#8217;s tourism industry and economy. We are pleased to offer&nbsp;inbound tourists the convenience of cashless transactions via&nbsp;QR payment&nbsp;at over 2 million merchants, retail outlets, and service providers across <span class=\"xn-location\">Malaysia<\/span>,&#8221; said <span class=\"xn-person\">Alan Ni<\/span>, CEO at TNG Digital.<\/p>\n<p><b>About Mastercard<br \/><\/b>Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we&#8217;re building a sustainable economy where everyone can prosper. We support a wide range of digital payments choices, making transactions safe, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential.<br \/><a href=\"http:\/\/www.mastercard.com\/\" target=\"_blank\" rel=\"nofollow noopener\">www.mastercard.com<\/a>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>International travelers can now pay like locals at more than 35 million merchants across Asia Pacific SINGAPORE, Nov. 5, 2024 \/PRNewswire\/ &#8212; Ahead of the Singapore FinTech Festival, Mastercard today introduced Mastercard Pay Local, a global service that makes it easy for consumers to make card payments to merchants using local digital wallets. With Mastercard [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-31149","post","type-post","status-publish","format-standard","hentry","category-business-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Mastercard launches Pay Local, enabling Asia&#039;s digital wallet providers to process card payments from more than 2 billion Mastercard cardholders - My Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/transmediavictoria.net.au\/?p=31149\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mastercard launches Pay Local, enabling Asia&#039;s digital wallet providers to process card payments from more than 2 billion Mastercard cardholders - My Blog\" \/>\n<meta property=\"og:description\" content=\"International travelers can now pay like locals at more than 35 million merchants across Asia Pacific SINGAPORE, Nov. 5, 2024 \/PRNewswire\/ &#8212; Ahead of the Singapore FinTech Festival, Mastercard today introduced Mastercard Pay Local, a global service that makes it easy for consumers to make card payments to merchants using local digital wallets. 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