Mastercard Incorporated + NetsUnion Clearing Corporation
Mastercard Incorporated
Purchase, New York · 1 relationship
Active relationship
Joint Venture · 2020–present
NetsUnion Clearing Corporation
Beijing, Beijing · 1 relationship
Analysis
Mastercard and NetsUnion Clearing Corporation formed Mastercard NUCC Information Technology (Beijing) Co., Ltd. to establish a domestic bank-card clearing institution in China. In February 2020, Mastercard announced that the People's Bank of China had granted the joint venture in-principle approval to begin formal preparations for domestic operations. [1]
The partnership moved from regulatory preparation to a live national payments network. Mastercard says the venture received formal approval from the People's Bank of China and National Administration of Financial Regulation in November 2023 and began processing payments made in China with Mastercard cards issued by Chinese banks in May 2024. [2]
Mastercard stated that the launch enables Mastercard-branded cards to be used for domestic and international purchases and is intended to expand issuance and acceptance inside China. [2] The venture therefore represents direct US-China cooperation in core payment infrastructure rather than a simple merchant or marketing agreement.
Participants
Continue through either entity
Purchase, New York · 1 record in this database
Mastercard is a U.S.-headquartered global payments technology company. The company says its network connects people and businesses in more than 210 countries and territories and that its global headquarters are in Purchase, New York. [1]
In China, Mastercard formed Mastercard NetsUnion Information Technology (Beijing) Co., Ltd. with NetsUnion Clearing Corporation to build domestic bank-card clearing infrastructure. The joint venture began processing domestic Mastercard transactions in 2024 after receiving formal regulatory approval in 2023. [2]
NetsUnion Clearing Corporation
Beijing, Beijing · 1 record in this database
NetsUnion Clearing Corporation (NUCC) is Mastercard's Chinese partner in Mastercard NetsUnion Information Technology (Beijing) Co., Ltd., the joint venture created to operate domestic Mastercard bank-card clearing in China. Mastercard states that the venture received in-principle approval from the People's Bank of China in 2020 and formal approval to commence domestic bank-card clearing in 2023. [1] [2]
The partnership moved from regulatory preparation to live infrastructure in May 2024, when Mastercard NetsUnion began processing China-issued Mastercard transactions for domestic purchases. [2]