Alibaba Group, China’s largest e-Commerce company, and MasterCard have signed a Memorandum of Understanding (MOU) to explore future collaboration in the area of e-commerce.
The MOU aims to forge joint efforts to establish an enhanced e-commerce environment. The two parties have also agreed to jointly address issues of common interests, including intellectual property infringement.
The two companies have also agreed to cooperate on cross-border payments, acceptance, security and risk management, as well as with MasterPass.
MasterCard and Alibaba Group have collaborated in the area of e-commerce in the past years, which includes integration of Alipay into the global payment solution of DataCash, joint promotions with AliExpress, as well as efforts in building an anti-piracy mechanism.