MasterCard Expands MasterPass to Taiwan

Published October 29, 2014, 11:57 a.m. EDT

Updated October 29, 2014, 10:57 a.m. EDT

1 Min Read

MasterCard plans to launch MasterPass, the card network's digital wallet, in Taiwan.

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The digital payment service will be available starting Nov. 19, the Purchase, N.Y., company said in an Oct. 29 press release.

"It is a major step in the evolution of payments as consumers today are looking to shopfrom every device they have," said Eva Chen, head of MasterPass in Taiwan, in the release

CTBC Bank, Cathay United Bank, E. Sun Bank, Taishin International Bank and Taipei Fubon Bank will be the first issuers to support the digital wallet in Taiwan. After consumers sign up for the service with their bank, they can shop online by entering a user ID and password.

MasterPass will be accepted at several major online merchants, including Momo, 17 Life, Lion Travel and OB Design.

MasterCard's digital wallet is currently available in 11 countries, including Australia, China and the United States.

Kristin Broughton

Kristin Broughton is a reporter for American Banker, where she writes about the business of national and regional banking.

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