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MasterCard unveils MasterPass digital wallet and mobile payments platform

MasterPass covers in-store and online payments, supports both NFC and QR codes and enables “banks, merchants and partners” to offer their own wallets to consumers.

MasterPass

MASTERPASS: “Every device is becoming a shopping device”

MasterCard has introduced MasterPass, a new brand name and extension of PayPass Wallet Services that adds support for QR code payments as well as NFC. It also enables retailers and other partners, as well as banks, to provide their customers with a MasterPass mobile wallet.

MasterPass “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,” says MasterCard. The new service comprises three elements:

  • MasterPass checkout services. This provides merchants with a consistent way to accept electronic payments regardless of where the consumer may be. For in-store scenarios either at the register or in the aisle, MasterPass will support the use of NFC, QR codes, tags and mobile devices used at points of sale. For online purchases, MasterPass provides shoppers a simple check-out process by eliminating the need to enter detailed shipping and card information with every purchase.
  • MasterPass-connected wallets. These enable banks, merchants and partners to offer their own wallets. Consumers can securely store card information, address books and more in a secure cloud, “hosted by an entity they trust”. The wallet is open, which means that in addition to MasterCard cards, consumers can use other branded credit, debit and prepaid cards.
  • MasterPass value added services. These are designed “to enrich the shopping experience before, during and after checkout” and will include information like account balances and real-time alerts and loyalty programs as well as Priceless offers and experiences.

A video produced by MasterCard shows the new service in action:

More than twenty financial institutions and a range of merchants are supporting the launch of MasterPass including:

  • Financial institutions: BBVA Bank, BNLPOSitivity, BNL Italy, BNP Paribas Fortis Belgium, Banco Sabadell, Banco Santander, Banca Sella, Bank of Montreal, Citi, Commonwealth Bank, Deutsche Bank Italy, EnterCard, Euro 6000, European Merchant Services, Fifth Third Bank, Handelsbanken, International Card Services Netherlands, Intesa Sanpaolo, Lake Trust Credit Union, ME Bank, NAB, SEB Kort, SIA, Swedbank, TMG Financial Services, UniCredit and Westpac.
  • Merchants: AHL, American Airlines, Argos, Boots, Grocery Gateway, Harvey Norman, Hikingboots.com, JB Hi-Fi, LogiTravel, Mediamarket Spa Italy, MLB Advanced Media, Park Avenue Coffee, Roses Only Group, Runningshoes.com, Vodafone Italy and Wintercheck Factory. In total, says MasterCard, “in addition to these merchants, through our work with service providers and payment gateways worldwide, MasterPass will be available at more than 5,900 merchants”.
  • Technology partners: Adyen, Buckaroo, CQR, Cardinal Commerce, Cart32, Co-op Financial Services, DataCash, Demandware, ICBA Bancard, Merchant Warrior, mFoundry, Moneris, Opentech.com, Paycorp Holdings, PSCU, Reply, Sage Pay, SIA, The Members Group, Usablenet and VeriFone Systems.

“As a digital retail leader, we are keen to be at the forefront of new ways customers can shop with us,” says John Walden, managing director of UK retail chain Argos. “With customers rapidly changing their mix of shopping methods, whether internet, mobile device or in store, MasterPass will in due course enable us to provide our customers with a simple, quicker and secure way to shop.”

“MasterPass allows us to offer to our customers, cardholders and merchants an immediate competitive solution for e-commerce, and a great foundation for new in-store experiences,” adds Javier Herraiz, global director of innovation in payments at Santander Cards.

A partnership with mFoundry will also see MasterPass being integrated with the company’s mFoundry’s mobile banking platform, making it easy for the technology provider’s 900 bank customers to add mobile payments to their mobile banking services. “By bringing together both, financial institutions can transform their mobile banking experience and achieve the broader goal of turning mobile into their most valuable channel,” says mFoundry CEO Drew Sievers.

VeriFone, meanwhile, is to integrate MasterPass as a cloud-based payment option within its GlobalBay Mobile Point of Sale (mPOS) solution, enabling shoppers to access their MasterPass wallet accounts “to pay from anywhere in the store on mobile devices – such as smart phones and tablets — using the GlobalBay software.”

“Every device is becoming a shopping device,” says Ed McLaughlin, chief emerging payments officer at 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.”

Consumers in Australia and Canada will be able to sign up for MasterPass by the end of March, in the United States from the spring and the United Kingdom by summer. MasterPass will also be available in 2013 in Belgium, Brazil, China, France, Italy, Netherlands, Singapore, Spain and Sweden.

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