Masterpass Adoption Delivers Simple and Secure Digital Payment Experiences for Consumers, Issuers and Merchants Around the Wo...
September 07 2016 - 8:15AM
Business Wire
Market Expansion and a Full Range of Use
Cases Highlight Breakthrough Year for Masterpass Global Digital
Payment Service
The continued transformation of Mastercard to an even more
digital company continues to be driven by the rapid growth, support
and success of Masterpass, the company’s digital payment service.
As part of this momentum, Mastercard today announced issuers and
merchants around the globe that are making Masterpass available to
their customers, enabling fast, simple and secure digital payment
experiences across devices and channels – online, in-app and
in-store.
Global Expansion and Enhancements to
Masterpass
The Masterpass vision is to support all forms of commerce in
order to address the widest range of merchant experiences and
consumer needs. Currently available in 33 markets and with planned
expansion to 36 by the end of 2016, Masterpass stores all payment
information, including card details from both Mastercard and other
payment networks, shipping information, and payment preferences in
one convenient, secure place.
In July, Mastercard launched the next stage in the Masterpass
journey – an omni-channel all-digital payment service for issuers,
merchants and consumers leveraging the most advanced methods of
payment security available today, including network tokenization.
Now live in the United States, the enhanced Masterpass service will
continue to roll out in Africa, Asia Pacific, Europe, Latin America
and the Caribbean, the Middle East and North America during 2016
and into 2017.
“Around the globe, we continue to work with our bank and
merchant customers to deliver new features and functionality to
Masterpass that not only solve for their needs, but address the
issues facing the ultimate customer – the consumer. In doing so,
we’ve developed a platform that’s second to none and unique in the
market today. The global momentum we’re achieving with banks,
merchants and consumers is proof-positive of our efforts to create
simple and secure digital payment experiences anywhere consumers
want to shop,” said James Anderson, executive vice president,
Digital Payment Products, Mastercard.
Issuers Moving to Digital Payments Turn
to Masterpass
Masterpass offers the only issuer-branded solution that supports
multichannel, multi-device commerce to enable a wide range of
consumer shopping preferences. By adding digital payment
functionality through Masterpass, issuers can enhance and
differentiate their existing product suite, including their mobile
banking application, and integrate their proprietary services –
including balance display, purchase alerts and paying with points –
to differentiate its solution from other digital payment options in
the market. Key issuers in Asia, Europe and the United States have
committed to auto-enroll 80 million accounts into Masterpass by
year end.
- In North America, the enhanced
version of Masterpass was announced with support from leading
issuers in the United States including Bank of America, Bank of the
West, Capital One, Citi, Fifth Third, Key Bank, PSCU and Sun Trust.
Several issuers including Associated Bank, Fifth Third
Bank, First Tech Federal Credit
Union, KeyBank, People’s United Bank, Security Service
Federal Credit Union and Virginia Credit Union, are now live
with the enhanced version of Masterpass, with additional launches
planned for this year.
- Forty major issuers across 18 countries
in Europe, including KBC Bank in Ireland, Intesa Sanpaolo in
Italy, SEB, Nordea, Swedbank, ICA Banken and Resurs Bank in Sweden
and Viseca in Switzerland, are now using Masterpass to integrate
digital payments into their services.
- In the Asia Pacific region, AXIS
Bank and CIMB Bank have signed on to support the use of Masterpass
by their cardholders. These banks join dozens of financial
institutions in the region, including Commonwealth Bank, National
Australian Bank, Westpac, Bank of Ningbo, China Construction Bank,
Bank of East Asia, HSBC, Maybank, DBS Bank, OCBC Bank, Standard
Chartered Bank, UOB Bank, Hang Seng Bank, Dah Sing Bank, Fubon Bank
and Cathay United Bank, in providing more options to pay to their
customers.
- In the Middle East and Africa,
more than 18 Masterpass-enabled wallets are live, with support
coming from eight leading banks in the United Arab Emirates (UAE),
and four leading banks in South Africa including Standard Bank and
Absa Bank.
- In Latin America and the
Caribbean, Masterpass is currently live in Colombia and Brazil,
supported by key issuers including Caixa and Porto Seguro.
Merchants Offer Masterpass Acceptance
to Provide Innovative and Secure Digital Shopping Experiences to
Consumers
Masterpass provides a way for merchants to deliver the most
convenient shopping experiences to their customers. Because
Masterpass is backed by banks across the globe, merchants can gain
access to the large, still untapped group of mainstream consumers
who trust banks to provide them with a digital payment service.
Masterpass also provides multilayered security, leveraging
techniques such as data encryption and card tokenization, to help
protect against the risk of fraud for merchants.
Masterpass is currently available at hundreds of thousands of
merchants online or in-app. Consumers are also now able to use
Masterpass at the more than six million merchant locations in 77
countries that accept contactless payments, with this capability
first available to Android device owners in the United States.
- In North America, Kohls.com,
Match and United Airlines join the growing roster of merchants
committed to supporting Masterpass including BJ’s Wholesale Club,
The Cheesecake Factory, Crate & Barrel, Office Depot,
Saks.com/LordandTaylor.com and Walmart.
- In Europe, new merchants
including Galeria Kaufhof, Media Markt and Saturn in Germany,
TicketOne in Italy, Letsbonus and Lastminute in Spain, Boots, See
Tickets and The Hut Group in the UK join the more than 100,000
retailers in the region that accept Masterpass, including
Trenitalia, Alitalia and Czech Railways. In the UK, Mastercard
is reinventing the way people pay when eating out. With Qkr! with
Masterpass, consumers can pay their bill, add items to their order,
split tabs, and add a tip all from their smartphone. The service is
now widely available in the UK with restaurant chains such as
wagamama, Ask Italian, Zizzi’s and Carluccio’s all offering it as a
way to pay for their customers.
- Within the Asia Pacific region,
ComfortDelGro taxi, Singapore’s largest taxi operator, leverages
Masterpass to enable its customers using the ComfortDelGro taxi
booking app to easily pay for rides with a few clicks of their
smartphone. Pizza Hut customers in the Philippines and Hong Kong
leverage Masterpass to complete their online and in-app orders,
while in Singapore, the availability of Masterpass on AXS e-Station
and AXS m-Station enables consumers to quickly and safely complete
their bill payments.
- In the Middle East and Africa,
leading merchants including Novo Cinemas and Aido.com in the UAE
have chosen to offer Masterpass as a payment option for their
customers. In South Africa, Masterpass is accepted for online,
in-store and in-app payments at a range of merchants including
Netflorist, Takealot, South African Airways, Le Creuset and Mango
Airlines. Card-based mobile top-up continues to deliver new levels
of consumer convenience in South Africa, and Masterpass has been
extended to support payments in-store or face-to-face at more than
3,000 iKhokha retailers and service providers. In the UAE, BEAM, a
mobile commerce and rewards platform, has implemented Masterpass at
more than 3,000 merchants, including a unique fuel use case with
Emirates National Oil Company-owned gas stations.
- Leading merchants including Ricardo
Electro, Renner and Novo.com in Latin America and the
Caribbean are offering Masterpass to their customers as a
simple and safe way to make digital payments.
Masterpass QR Launches to Address
Digital Payment Acceptance Challenges of Micro, Small and Medium
Enterprises (MSMEs) in Developing Markets
With more merchants – of all sizes and in all corners of the
globe – beginning to accept electronic payments and expand their
presence across digital, Mastercard introduced Masterpass QR, a
quick, intuitive and secure way for consumers to pay, eliminating
the need to use cash and helping merchants enhance the degree of
convenience their customers can expect when shopping with them. To
safely pay for online and in-store purchases, consumers scan a
Quick Response (QR) code displayed at checkout on their smartphones
or enter a merchant identifier into their feature phones. Consumers
then enter the amount of the transaction and their PIN to complete
the transaction.
Masterpass QR first launched in August in Pakistan with United
Bank Limited (UBL), Pakistan’s Best Bank 2016. Additional launches
are planned across Asia Pacific and Middle East and Africa.
About Mastercard
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 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 Beyond the Transaction
Blog and subscribe for the latest news on the Engagement
Bureau.
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version on businesswire.com: http://www.businesswire.com/news/home/20160907005817/en/
Mastercard Communications:Brian Gendron,
914-325-1799brian.gendron@mastercard.com
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