Mastercard and Alipay enable real-time remittance in over 180 markets

Alipay’s 1 billion users in China can now transfer and pay with over 150 currencies.

Mastercard has established a direct connection with Chinese payment giant Alipay, enabling international payments and money transfers to over markets and 150 currencies.

Using the Mastercard Move solution, Alipay’s 1 billion users in China can transfer money and make payment transactions in near real-time.

Mastercard Move reportedly reaches nearly 10 billion endpoints worldwide, including bank accounts, card, wallet, and cash payout locations, the payments network giant said in a joint news announcement with Alipay.

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The connection between the two payment firms is an important addition to Mastercard’s international payments offering, said Alan Marquard, Mastercard’s head of transfer solutions.

“Disbursements and remittances are a key area of growth for Mastercard, and the company continues to develop its solutions across geographies, always with the objectives to make payments faster, safer and more convenient and to foster financial inclusion,” Marquard said.