MasterCard and BOC Services, the acquiring subsidiary of Bank of China, recently signed an agreement to making MasterPass available to Chinese merchants.
A MasterPass wallet allows mobile shoppers to quickly and easily check out on any device, by simply clicking the “Buy with MasterPass” button.
They can also securely store MasterCard and other branded credit, debit and prepaid card information, along with shipping addresses, so that they can be easily accessed when paying for purchases.
This service is currently accepted by over 70,000 merchants in sixteen countries including China, as well as Australia, Canada, Czech Republic, France, Italy, New Zealand, Poland, Romania, Russia, Singapore, South Africa, Taiwan, United Arab Emirates, United Kingdom and the United States.
In China, merchants including Ctrip.com, Osell.com, and Ceair.com will be among the first business implementing the service.
Zhuang Dawei, General Manager, BOC Services Shanghai Branch, said the goal is optimize shoppers’ payment experience, and in the process, create more business opportunities for merchants.
“Every digital device now has the potential to become a commerce device and Chinese consumers’ demands and spending habits are changing, too. This is bringing new challenges to the foundation of business – payment. This new cooperation will enable more Chinese merchants to utilize the powerful technology of MasterPass, creating more cross-border business opportunities,” added Dennis Chang, General Manager, China, MasterCard.