Mastercard announced Wallet Pay on September 10 as a portfolio connecting digital wallet providers with the company's global payments network. The service enables wallet operators to access contactless terminals, QR code systems, online checkout services, and cross-border payment channels while maintaining their own consumer-facing platforms.
Wallet Pay functions include card issuance, in-person and online acceptance, and transfers across more than 200 countries and territories in 150 currencies. The portfolio allows more than 3.7 billion Mastercard credentials to connect with participating wallets, extending access to hundreds of millions of physical acceptance locations and digital access points worldwide.
Market Scope
Digital wallets currently serve more than 4.3 billion users globally, according to Mastercard's statement. Juniper Research estimated the digital wallet market contained approximately 4.4 billion users during 2025, projecting 35 percent user growth over five years.
Major wallet participants already using Mastercard's network include Alipay+, Axian, CRED, DaviPlata, Mercado Pago, MTN, and TenPay Global. Alipay+ supports connections for AlipayHK, Clip, GCash, KakaoPay, TNG eWallet, and TrueMoney, and connects more than 50 e-wallets and banking apps along with over 10 national payment systems.
Interoperability and Broader Strategy
Wallet Pay is designed for stored-value services, which maintain funds inside an account for later purchases or transfers. Providers can use Mastercard's cloud-based payment technology without rebuilding their underlying infrastructure and may introduce credit, debit, or prepaid card programs.
The launch extends Mastercard's wider strategy spanning conventional payments, digital wallets, and blockchain-based settlement. In June, the company announced plans to support six regulated stablecoins for settlement across eight blockchain networks. Mastercard's Crypto Partner Program includes more than 85 firms working on blockchain-powered payments, remittances, business transfers, and settlement.
