Mastercard Simplifies Managing Your Digital Footprint with Launch of Consumer Control
October 23 2017 - 10:00AM
Business Wire
New solution will help the 60 percent of people
who say they don’t know where their card credentials are stored
Do you know all the places you’ve stored your payment card
details? From shopping sites to billers, keeping track of where
your card credentials are held can be a daunting task. Today,
Mastercard Consumer Control was introduced to address just this.
The solution provides consumers a central view of where their cards
are stored across all digital channels, as well as the ability to
control how, when and where those cards are used.
This solution enables consumers to look no further than their
own trusted bank or credit union to take control of their digital
payment footprint – across devices and channels. Through this
solution, issuers can help their cardholders more easily add their
cards to their preferred shopping sites and payment devices, and
optimize spend across the digital ecosystem.
“As digital payments continue to evolve, cardholders have more
and more options to enable new types of devices for payment, and to
pay in new ways online and in-app,” said Jessica Turner, executive
vice president Digital Payments & Labs, Mastercard. “In our
ongoing commitment to deliver consumer-centric solutions,
Mastercard is introducing a series of APIs that will give the
consumer direct control to view where their card is stored and
manage spend across all digital channels - all from right within
their mobile banking app or website.”
Your Bank Your Control
According to the findings of a recent Mastercard study, about
three-quarters (73%) of Americans are interested in digital
management of their credit/debit card information, and they want it
from their bank or credit union. Mastercard Consumer Control
uniquely empowers issuing partners to deliver a bank-branded,
all-digital payment solution to provide consumers full oversight of
their digital payment footprint. The solution helps issuers
differentiate their mobile banking offering by adding powerful new
functionalities. First Tech Federal Credit Union will be among the
first issuers to support Mastercard Consumer Control.
The Simplest, Most Secure Path Forward
Mastercard is also partnering with token service providers,
merchants and device manufacturers like Fitbit (NYSE: FIT), Fitpay
and Garmin to enhance the overall consumer experience while
delivering a streamlined solution across card on file and IoT
devices. Layering services including tokenization with bank
identification and verification of cardholders, Mastercard Consumer
Control also leverages the most advanced security methods today.
And with more than three quarters (78%) of survey respondents
hesitant to store their financial information online, this added
peace of mind is critical.
Consumer Control is one of the more than 35 APIs available
through our Mastercard Developers portal. Mastercard envisions a
future powered by an API for everything – one that inspires
innovators to bring their ideas to life by plugging our technology
into their solutions without having to start from scratch. Through
our Payments, Data Services and Security APIs, we enable customers
and partners to easily integrate Mastercard proprietary technology,
products and services into their digital solutions. In the last
year alone, the Mastercard API Platform has seen a 400% increase in
usage.
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20171023005371/en/
Mastercard Communications:Sarah Ely,
914-249-6714sarah.ely@mastercard.com
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