MasterCard introduces cross-border payment service in China

Monday 8 December 2014 13:01 CET | News

MasterCard has launched a cloud-based cross-border payment service for financial institutions in China.

This will allow Chinese consumers to make purchases around the world from various connected devices.

MasterCard’s cloud-based payment services can use tokens delivered by the MasterCard Digital Enablement Service (MDES). Transactions are secured using industry-standard EMV cryptography and involves the creation of a unique number, or token, that a mobile devices uses in place of the plastic card number.

In recent news, MasterCard has used a submission to a Senate inquiry to argue for Australian regulators to move against the anonymity of digital currencies

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Keywords: MasterCard, cross-border payment, China, financial institution, Digital Enablement Service, online payments
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce