MasterCard introduces cross-border payment service 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