Mastercard Move Expands China Connectivity With New Bank of Shanghai Collaboration

Mastercard today announced a collaboration between Mastercard Move, its money movement platform, and Bank of Shanghai (BoS) to enable seamless, bi-directional payment flows between China and global markets.  

As international trade, migration and education continue to grow, people and businesses increasingly rely on fast, predictable and transparent global payments. The integration of BoS into Mastercard Move streamlines these cross-border flows, giving SMEs, students and families a more efficient way to move money into and out of China, strengthening a vital financial bridge between China and the world. 

Streamlining SME trade payments into and out of China   

China is one of the world’s largest trading corridors, exporting more than USstrD 3 trillion annually. Fast, predictable cashflow is critical for both international and Chinese SMEs to keep supply chains moving. The BoS integration enables Mastercard Move to deliver cross-border inbound payments directly into China’s broad bank account network, making it easier for global SMEs to pay Chinese suppliers. 

Key benefits for inbound payments: 

For Chinese SMEs paying international suppliers, the collaboration provides access to Mastercard Move’s trusted global money movement network that reaches markets across North America, Europe, APAC, LAC and EMEA. 

Key benefits for outbound payments: 

The collaboration advances Mastercard’s broader strategy to support SMEs as they grow their global footprint. Mastercard Global Commerce Suite for Small Businesses, a set of holistic capabilities powered by Mastercard Move, which launched yesterday, reinforces this as it provides banks with a comprehensive set of solutions to help SMEs in Asia Pacific manage cross-border commerce with greater visibility and control. 

Expanding remittances and international education payments  

This collaboration also expands outbound payments from China, enabling fast, secure and transparent payments to markets across Asia Pacific, Europe, Middle East and Africa, North America and Latin America, supporting key personal payment needs, including remittances and international education payments. Each year, nearly 700,000 Chinese students study abroad, representing a significant population whose payment needs can be better served by this expanded connectivity. 

Families and students benefit from more predictable FX handling, simpler documentation and faster processing, while receiving institutions gain improved reconciliation and payment visibility.  

“As a global hub for trade and remittances, China sits at the center of how people and money move around the world,” said Pratik Khowala, Global Head of Transfer Solutions at Mastercard.  

“With this collaboration, we’re extending our multi-rail capabilities across cards, digital wallets and bank accounts to give banks and payment service providers across the world a single, trusted platform to send funds to China. At the same time, businesses and people in China can rely on our global network to send money quickly and securely to destinations worldwide. This collaboration strengthens a vital financial bridge between China and the rest of the world, supporting millions of SMEs, families and students who rely on fast, reliable cross-border payments every day.” 

“This collaboration with Mastercard marks an important milestone for both organizations as we work together to support China’s deeper integration with the global economy and make finance work better for people and businesses,” added Yu Minhua, Deputy President, Bank of Shanghai. “In today’s environment, efficient and transparent cross‑border capital flows are essential – whether for domestic SMEs looking to join global supply chains or for Chinese families pursuing overseas education opportunities. By combining Bank of Shanghai’s strong local service capabilities with Mastercard Move’s global money movement network, we will deliver faster, more predictable cross‑border payments for both businesses and individuals.   

“Looking ahead, we will continue to deepen our relationship with Mastercard to build a more resilient financial services ecosystem that supports payments into and out of China – and further strengthens economic and trade connectivity between China and the world.” 

The collaboration with BoS builds on Mastercard’s broader strategy to deliver a comprehensive payout network in China. Mastercard Move now connects into all major payment endpoints, enabling international consumers and businesses to pay Chinese individuals and companies through the channels they use every day, including:  

Mastercard Move is Mastercard’s portfolio of global money movement capabilities, enabling banks, corporates, non-bank FIs, digital players and governments – and their customers – to send and receive funds across borders and payment types. It enables money to move quickly, safely and with ease, within and across more than 200 countries and territories, including high-demand, hard to access markets, and in more than 150 currencies, reaching nearly 17 billion endpoints and 95% of the world’s banked population.