Alibaba, Mastercard Sign MoU Related to e-Commerce

Alibaba Group, China's largest e-Commerce company, and MasterCard MA 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 to benefit consumers and small businesses within and outside China. The two parties have also agreed to jointly address issues of common interests, including a strong mutual commitment to help combat intellectual property infringement. As leaders in their respective industries, both companies believe that innovation and collaboration are the drivers of development in e-Commerce, and are committed to fostering an enhanced e-Commerce environment that provides a safe and efficient payment experience for users of Alibaba Group's platforms such as AliExpress and its affiliate Alipay. Both parties have agreed to cooperate on innovations including cross-border payments, acceptance, security and risk management as well as with MasterPass, the MasterCard digital service that allows consumers to use any payment card or enabled device to discover enhanced shopping experiences.