At Sibos 2024 in Beijing, Mastercard unveiled Mastercard Move Commercial Payments, a groundbreaking solution poised to revolutionize cross-border transactions for banks in the Chinese mainland. This industry-first innovation aims to streamline international payments, offering enhanced convenience and significant cost savings.
Alan Marquard, Executive Vice-President of Transfer Solutions at Mastercard, emphasized the transformative potential of instant payments during an interview with CGTN. He highlighted how Mastercard Move Commercial Payments will enable Chinese banks to process transactions more efficiently, fostering stronger global trade connections and supporting the dynamic needs of businesses in today’s fast-paced market.
This new payment solution aligns with the growing demand for seamless and reliable financial services, positioning Mastercard at the forefront of financial technology innovation in the region.
Reference(s):
China has massive trade market with payment solutions: Mastercard VP
cgtn.com
