Mastercard has teamed up with TerraPay to enable contactless payments for digital wallets across its global acceptance network.

Under the partnership, TerraPay will connect wallet providers, including mobile money operators, fintechs and banks, to Mastercard’s acceptance infrastructure.

This will allow users to make near-field communication (NFC) payments at more than 150 million Mastercard acceptance locations worldwide.

Wallet providers will also gain access to advanced infrastructure and technology jointly delivered by both companies.

TerraPay said the integration will support faster go-to-market while simplifying the launch process through Xend, its global payment interoperability platform.

“At TerraPay, our mission is to make every wallet roam — to work anywhere, just like your card does. For years, we’ve connected banks, wallets, and money transfer organizations across 150+ countries. Our collaboration with Mastercard takes that mission a step further.

Together, we’re bringing true payment interoperability to wallets globally, enabling them to pay at millions of acceptance points and empowering people everywhere to move and pay safely, instantly, and without borders,”

said Ambar Sur, Founder & CEO, TerraPay.

“At Mastercard, we are enabling innovation and global reach for digital wallets, which serve as important drivers of financial inclusion.

Collaborations with key ecosystem players like Terrapay play a key role in scaling the positive impact via their multiple wallet partners and simplifying the implementation process,”

said Prakriti Singh, Executive Vice President, Core Payments, Mastercard, EEMEA.

Mastercard said in its 2024 annual report that about 70 percent of in-person transactions on its network are now contactless.

The company said contactless payments are up to ten times faster than other face-to-face payment methods and that contactless-enabled accounts tend to spend more on average.