Business Intelligence on Retailing, Franchising, and Consumerism in China


MasterCard Teams With Chinese Bank For Virtual Payments

China CITIC Bank and MasterCard have signed a memorandum of understanding for strategic cooperation in the virtual payments space within and outside China.

Financial terms of the deal have not been released, but the two parties aim to jointly develop and promote innovative products and services including Quick Response code services, and collaborate to provide a safe and efficient payment experience for domestic and overseas cardholders and merchants.

MasterCard and China CITIC Bank have already built a partnership in product development, cross-border settlements, innovative product campaigns and other related areas. In the near future, as the electronic payments sector matures, both parties will bring this collaboration to a new level.

Internet Banking is one of China CITIC Bank's key strategic areas and the bank aims to seize opportunities in the rising online financial product sector, particularly in the areas of e-commerce, mobile payments and online mortgages.





Be the first to comment on "MasterCard Teams With Chinese Bank For Virtual Payments"

Leave a comment

Your email address will not be published.

*





  Other China News

ChinaTechNews.com:

Xiaomi's Cryptography Deal Raises China Security Questions

SMIC's New Shanghai Company Gains Investment Participants

Letv Subsidiary Acquires 18% Stake In Coolpad

Chinese Internet Laws Target Government Control And Online Bullying


GreenChinaTech:

Beijing Power Plant Works With American Firm To Reduce Emissions

Beijing Power Plant Works With American Firm To Reduce Emissions

World Wildlife Fund Gains Apple's Support In China

Tesla Delivers Cars To Chengdu Consumers


ChinaSourcingNews.com:

Alibaba Expands Cross-Border Internet Trading Opportunities

U.S.-backed Chinese JV Wins Russian LNG Project

Alibaba's Logistics Affiliate Expands To More Chinese Cities

Samsung SDI To Build Polaroid Film Plant In China