Tencent and Mastercard signed a memorandum of understanding, expanding their partnership into the field of agentic commerce.

On November 2, TenPay Global, Tencent's cross-border payment platform, and Mastercard announced the signing of a memorandum of understanding. Under the memorandum, TenPay Global and Mastercard plan to integrate their respective capabilities in payment processing, currency exchange, risk management, and fraud prevention to help merchants better serve overseas customers. The two parties will join forces with digital wallet service providers, financial institutions, and payment service providers to further expand the coverage of cross-border QR code payments. In addition, the collaboration between TenPay Global and Mastercard extends to the agentic commerce space, exploring how to extend interconnectivity, trust, and security into AI-driven new commercial ecosystems.