TenPay Global and Mastercard sign MOU to explore QR interoperability and agentic payments
The agreement covers QR acceptance for visitors to the Chinese mainland, remittances into Weixin, and payments by AI agents.
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HONG KONG, November 2, 2026. TenPay Global, Tencent’s cross-border payment platform, and Mastercard signed a memorandum of understanding to explore cross-border payment interoperability and agentic payments.
The memorandum outlines three areas of collaboration. The first is QR payment acceptance for international visitors to the Chinese mainland, allowing them to pay at QR-enabled merchants using their existing digital wallets and bank apps. TenPay Global and Mastercard said they will combine capabilities in payment processing, currency conversion, risk management, and fraud prevention. They will also engage digital wallet providers, financial institutions, and payment service providers to expand participation.
The companies said inbound spending in the Chinese mainland increased 51.3% year over year in the 12 months to June 2026, according to Mastercard data. Transactions made with international digital wallets through Weixin Pay in the mainland grew 81.8% in number and 80.6% in value year over year from January to August 2026.
The second area builds on existing remittance collaboration through Mastercard Move, which the companies said supports transfers across more than 200 countries and territories and over 150 currencies.
The third area focuses on agentic commerce, exploring how interoperability, trust, and security can extend to AI agents that assist consumers and businesses in discovering, deciding, and transacting. The companies named Mastercard Agent Pay, Mastercard Agent Connect, and Virtual C-Suite as products they will explore.
On Mastercard’s October 29, 2026 earnings call, CEO Michael Miebach said a strategic partnership with OpenAI includes the use of Agent Pay, Mastercard’s payments infrastructure for agentic commerce, which Shopify’s Shop Pay already uses, according to PYMNTS.