Mastercard has introduced Wallet Pay, a portfolio of solutions designed to enable interoperability among digital wallets across contactless, QR code and online payment channels.

The product launched with a group of digital payment providers, including Alipay+ partner wallets AlipayHK, Clip, GCash, KakaoPay, TNG eWallet and TrueMoney, along with Axian, CRED, DaviPlata, Mercado Pago, MTN and TenPay Global.

Mastercard says the Wallet Pay portfolio includes several capabilities: cross-border money transfers across more than 200 countries and territories in 150 currencies, support for wallet providers launching their own card programs, and tools aimed at expanding access for unbanked and underbanked consumers. The company also states that more than 3.7 billion Mastercard credentials can connect to digital wallets through the platform.

Alipay+, operated by Ant International, connects more than 50 e-wallets and banking apps and over 10 national payment schemes worldwide and is participating in the rollout at scale.

"Wallets are gateways to the digital economy and launchpads for broader financial services," said Jorn Lambert, chief product officer at Mastercard. "Through our Wallet Pay solutions, we're helping payment providers to enhance the interoperability and user experience of their services, underpinned by trust, scale and convenience for the people and businesses they serve."

TenPay Global, Tencent's cross-border payment platform, said it plans to use the partnership to allow international visitors to make QR code payments at tens of millions of Weixin Pay merchants in mainland China using their home wallets.

DaviPlata, a Colombian digital payments provider, said it reached 1.5 million active cards in 15 months through a model built with Mastercard, and has since enabled its card to link to Apple Pay and Google Pay.

Mastercard Wallet Pay also connects to the company's recently announced Global Financial Health Coalition, which brings together digital wallet providers focused on financial inclusion.