Mastercard has announced a major new collaboration with TerraPay, the global money movement company, aimed at giving digital wallet users around the world access to modern, seamless payment experiences. The partnership will allow mobile money wallets, fintechs, and banks connected to TerraPay’s network to offer their customers the ability to make payments at more than 150 million Mastercard acceptance locations worldwide, using NFC technology for fast, contactless transactions.
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For millions of wallet users, this means they’ll soon be able to tap their phones to pay at stores just as easily as traditional cardholders unlocking a level of global acceptance that digital wallets have historically struggled to achieve. For wallet providers, the agreement delivers a powerful technical advantage through TerraPay’s new interoperability platform, Xend, which streamlines launch processes and accelerates time to market.
TerraPay Founder and CEO Ambar Sur said the partnership moves the company closer to its mission of making every wallet “roam like a card,” enabling safe, instant, borderless payments. He noted that TerraPay already connects financial institutions in more than 150 countries, and working with Mastercard will expand payment interoperability at a global scale.
Mastercard’s own data shows just how significant this shift could be—70% of in-person Mastercard transactions globally are now contactless, a method that’s up to ten times faster than traditional face-to-face payment options. Contactless users also tend to spend more, highlighting its growing importance for consumers and merchants.
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Prakriti Singh, Executive Vice President of Core Payments for Mastercard EEMEA, emphasized that digital wallets play a central role in driving financial inclusion, especially in emerging markets. She added that partnerships like the one with TerraPay help scale these benefits by giving fintechs and wallet providers easier access to global infrastructure.
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As digital wallets continue to gain ground across developing economies, combining Mastercard’s global reach with TerraPay’s interoperability layer is expected to significantly accelerate adoption bringing fast, secure, contactless payments to more consumers and helping wallets operate with true global flexibility.
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