Mastercard introduced 'Pay Local,' a new global service designed to seamlessly connect consumers and merchants by enabling card-based payments through local digital wallets. This allows Mastercard cardholders to link their credit or debit cards to participating local digital wallets for shopping without needing to set up or top up prepaid accounts.
Leading digital wallets in Asia Pacific, including DANA in Indonesia, Touch 'n Go in Malaysia, Bakong in Cambodia, and LankaPay in Sri Lanka, will leverage Mastercard Pay Local. This expansion will enable payments at over 35 million merchants that accept these wallets, significantly increasing acceptance points.
The service is also targeted for growth in Latin America, Eastern Europe, the Middle East, and Africa. Mastercard Pay Local benefits micro-, small, and medium enterprises (MSMEs) by increasing their reach with minimal infrastructure investment, while offering a smooth consumer experience and quicker time to market for wallet operators.
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