Mastercard enabling remittances into China with Alipay

Mastercard announced on Tuesday it has launched Mastercard Pay Local, a new global service that enables digital wallet users in Asia-Pacific, Latin America, Eastern Europe, and the Middle East and Africa to pay locally when they travel.

Mobile money adoption surged 327% in the past five years in Benin showcasing the rising popularity of the technology.

Pakistan Telecommunication Company Limited (PTCL) says that Mastercard has partnered with its fintech subsidiary U Microfinance Bank (UBank) to issue a new physical and virtual debit card for its mobile financial services platform UPaisa.