For many Filipinos, a digital wallet is already a go-to tool for everyday payments and money transfers. Mastercard’s new Wallet Pay aims to take that convenience further by connecting wallets to more payment options and financial services worldwide.
Digital wallets now serve more than 4.3 billion users globally, according to Mastercard, with that number expected to exceed 6 billion by 2030. Wallet Pay is designed to help these platforms work more seamlessly across contactless, QR code, and online payments.
The portfolio is being introduced with digital payment providers including Alipay+, the global wallet gateway of Ant International. Alipay+ supports partner wallets such as GCash, AlipayHK, KakaoPay, TNG eWallet, and TrueMoney, alongside other providers including Axian, CRED, DaviPlata, Mercado Pago, MTN, and TenPay Global.
For consumers, this could mean more flexibility when paying or moving money, especially when traveling. Wallet Pay supports connections between cards, wallets, and accounts, with Mastercard saying its solutions can facilitate money movement across more than 200 countries and territories and 150 currencies.
The portfolio also gives wallet providers tools to offer their own credit, debit, or prepaid cards, while helping merchants accept payments from cards and digital wallets both in stores and online.
Mastercard says more than 3.7 billion Mastercard credentials can connect to digital wallets through its solutions, potentially giving wallet users access to more payment options without needing to change how they use their preferred platforms.
Mastercard says Wallet Pay is also designed to expand access to digital financial tools, particularly for underbanked and unbanked consumers in emerging markets.
