Mastercard partnered strategically with TerraPay, a global money movement company. The collaboration expands digital payment capabilities for wallet partners, enabling customers of mobile money wallets, fintechs, and banks to conduct seamless NFC payments. These payments are accepted at over 150 million Mastercard locations worldwide.
The initiative aims to simplify the go-to-market process for wallet providers and foster greater payment interoperability. Mastercard designed this move to capitalize on the growth of digital wallets, particularly in emerging markets, offering users more extensive and secure payment options both online and at the point of sale.
In separate news, Mastercard launched its 'Open Finance Business Solutions' in Australia on the same day. The solutions provide small and medium-sized enterprises (SMEs) with new tools. These tools improve onboarding, payments, and access to lending through real-time data sharing.
A report noted a significant pre-market share price surge. Analysts attributed the rise to investor confidence in Mastercard’s digital strategy and growth in cross-border transactions.