Alibaba Group, the largest e-Commerce company in China, and MasterCard have forged a partnership under a memorandum of understanding to collaborate in enhancing the e-Commerce environment within and outside of China.
“MasterCard and Alibaba Group have fostered a strong collaboration in the area of e-Commerce in the past years, which includes integration of Alipay into the global payment solution of DataCash, joint promotions with AliExpress, as well as efforts in building an anti-piracy mechanism,” Ling Hai, the division president of Greater China for MasterCard, said. “This MOU is another significant step in the joint effort to drive the innovation and development of e-Commerce in China. We are looking forward to seeing fruitful results from these collaborations.”
Both companies have stressed the importance of innovation and cooperation to the development of e-Commerce, and the companies have agreed to collaborate on innovation in the areas of cross-border payments, security, acceptance, risk management and MasterPass, a MasterCard digital service that provides consumers with an enhanced shopping experience.
“We are delighted to continue our collaboration with MasterCard and take it to a deeper level,” Lucy Peng, the CEO of Alibaba Small and Micro Financial Services Group, said. “Alibaba Group and its affiliate Alipay will seek to work with MasterCard on a number of innovative services in order to provide an enhanced shopping experience to consumers as well as a better online business environment to small businesses in and outside China.”