Tencent’s cross-border payment platform, TenPay Global, has entered into a memorandum of understanding (MoU) with Mastercard to expand payment interoperability across borders and assess opportunities in agentic payments.
The companies announced the agreement during Hong Kong FinTech Week 2026.
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Under the MoU, TenPay Global and Mastercard will examine ways for international visitors to use their existing digital wallets and issuer applications at QR-enabled merchants in the Chinese mainland.
The companies will also assess how the arrangement could help merchants serve customers from overseas.
The collaboration follows growth in inbound travel and spending in the Chinese mainland. Mastercard data shows that inbound spending in the market rose 51.3% year over year in the 12 months to June 2026.
Under the terms of the agreement, the two companies will combine their capabilities in payment processing, currency conversion, risk management, and fraud prevention. They will also work with digital wallet providers, financial institutions, and payment service providers to support wider participation in cross-border QR payments.
TenPay Global and Mastercard also plan to develop their existing cross-border remittance relationship through Mastercard Move. The companies will explore ways to help senders overseas transfer money into the Weixin ecosystem.
Mastercard Move supports money transfers across more than 200 countries and territories and more than 150 currencies.
The companies will examine further opportunities in payment interoperability, wallet innovation, cross-border payment infrastructure, security, and fraud prevention.
The deal follows Tencent’s similar agreement with Visa. Last month, the two companies partnered on cross-border payments, AI-powered commerce, enterprise AI, and international business expansion.
