At Mobile World Congress, MasterCard today introduced MasterPass™ – the future of digital payments. MasterPass is a digital service that allows consumers to use any payment card or enabled device to discover enhanced shopping experiences that are as simple as a click, tap or touch – online, in-store or anywhere.
MasterPass offers a one touch check out, saving the consumer time and simplifying the overall shopping experience. (Photo: Business Wire)
“Every device is becoming a shopping device,” said Ed McLaughlin, chief emerging payments officer, MasterCard. “MasterPass brings together all of the ways we pay for things, from traditional plastic cards to digital wallets, and gives consumers the ability to make a payment from wherever they are and with one simple experience.”
MasterPass is the evolution of PayPass Wallet Services, which was announced in Spring of 2012 and has been in production trial with select merchants and issuers. Consumers around the world will now be able to sign up for the service through financial institutions in Australia and Canada by the end of March, and in the United States and the United Kingdom later in the Spring and Summer respectively. Additionally, MasterPass availability in 2013 will expand to other markets worldwide, including: Belgium, Brazil, China, France, Italy, Netherlands, Singapore, Spain and Sweden.
The MasterPass suite of services includes:
“The most successful next generation payment product will be considerate of a wider range of stakeholders in its design and allow them to impact the user experience according to their business need and still-evolving industry dynamics. MasterPass reflects this modern sensibility of agnostic-based design but leverages the muscle that only a global network can deliver,” said Patricia Hewitt, Director, Debit Advisory Service, Mercator Advisory Group.
Merchants and Financial Institutions Embrace MasterPass
Since the introduction of PayPass Wallet Services in May of 2012, merchants and financial institutions worldwide continue to support MasterCard and its digital payments strategy. With today’s announcement, merchants, issuers and supporting partners working with MasterCard to support the launch of MasterPass include:
Supporting Partner Quotes
Find a complete list of MasterCard’s news announcements from Mobile World Congress in our Digital Press Kit and follow us @MasterCardNews #MWCashless #MAMobileSymp to join the conversation.
MasterCard (NYSE: MA), www.mastercard.com,is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardNews, join the discussion on the Cashless Conversations Blog and subscribe for the latest news.