Mastercard launches Wallet Pay for 4.3B wallets

• Mastercard has launched Wallet Pay to connect digital wallets with its global payment network.
• The service supports contactless, QR, online and cross-border payments across 200+ countries.
• Mastercard is targeting a digital wallet market expected to exceed 6 billion users by 2030.

Mastercard has launched Wallet Pay to connect digital wallets with its global payment network.

The service supports contactless, QR, online and cross-border payments across more than 200 countries and territories.

“Digital wallets have rapidly evolved into robust, multi-service platforms, now serving over 4.3 billion users worldwide,” Mastercard said.

Wallet Pay lets providers keep their own apps while connecting to Mastercard’s payment infrastructure.

The portfolio supports card issuance and transfers between cards, wallets and bank accounts in 150 currencies.

Mastercard’s network currently connects more than 3.7 billion Mastercard credentials with participating wallets and payment services.

The company expects global digital wallet use to exceed 6 billion users by 2030 as wallet providers expand into broader financial services.