The application was submitted by Mastercard NUCC Information Technology (Beijing) Co., Ltd, a joint venture of Mastercard and NetsUnion Clearing Corporation (NUCC).
Ajay Banga, president and CEO, Mastercard, said, “We are delighted and encouraged by this latest decision from the PBOC. China is a vital market for us and we have reiterated our unwavering commitment to helping drive a safer, more inclusive and seamless payments ecosystem for Chinese consumers and businesses. We remain focused on working with the Chinese government and local partners to grow the overall payments infrastructure.”
„The strategic collaboration between Mastercard and NUCC is founded on mutual synergies, and will drive a simple, safe and smart payments experience in a market well regarded as being one of the global frontrunners in digital payments technology.”, Mastercard said.
„Within one year, the company will be able to apply to the People’s Bank of China for formal approval to begin domestic bankcard clearing activity.”, according to the press release.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
