Mastercard has partnered with Hong Kong-based mobile rental payment platform KeyChain Pay to allow transactions between landlords and tenants via credit card.
Based on this partnership, KeyChain Pay will allow tenants to add a credit card issued by Mastercard to make use of one-click for all future payments. Tenants can also pay with credit card tokens saved in a dedicated app without having to enter their card details each time.
Helena Chen, managing director, Hong Kong and Macau, Mastercard, said, “The partnership with KeyChain Pay further illustrates the vision of Mastercard to take care of all Hongkongers’ daily needs, making Mastercard an integral part of their daily lives. "
Chen adds, "This initiative also proves Mastercard’s commitment in pushing forward the development of Hong Kong as a smart city, through leading the field of digital payments."
As another bonus from the partnership, through the rental payment platform, landlords can manage the administrative time and costs that come with handling complex procedures much easier. Landlords can also set up smart contract statements and receive reports to reduce the time needed to handle paperwork.
"The app provides people a delightful, worry-free and rewarding rental experience at an affordable cost. We are aiming to disrupt the legacy rental market, and the combination of our AI technology and Mastercard’s secured and swift payment network enables us to set new lifestyle standards for a smart and rewarding rental payment ecosystem,” said Lawrence Lau, founder and chief executive officer of KeyChain Pay.