Masterpass Allows Users to Shop Across Devices and Channels
Mastercard unveiled the Masterpass global digital payment service, which allows customers to make fast and secure payments online or in app. The technology, which is an omni-channel, all-digital service, also allows consumers to make contactless payments with their Android mobile phone in-store. Since Masterpass uses tokenization, transactions are more secure.
Masterpass is already available at hundreds of thousands of merchants, including Firehouse Subs, Masabi, MLB.com, MLBShop.com, Office Depot and Park Mobile. Now, consumers can also use Masterpass in-store at more than five million merchants in 77 countries.
Many banks have started to offer the Masterpass service to their customers, including Ally Bank, Associated Bank, Bank of America, Bank of the West, BMO Harris Bank, Capital One, Central Bank, Citi, Fifth Third Bank, First Hawaiian Bank, First Tech Federal Credit Union, KeyBank, People’s United Bank, Security Services Federal Credit Union, SunTrust and Virginia Credit Union.
In the coming months, JetBlue, Saks.com, Lord and Taylor.com, the Subway app and The Cheesecake Factory app will also deploy Masterpass.
“With billions of cardholders across the globe, we are working with our issuers and merchants to ensure that we’re delivering digital payments that support consumer expectations for a familiar and secure payment experience both now and in the future,” said Craig Vosburg, president of North America, Mastercard. “The expansion of Masterpass represents an important evolution of our business. We’re packaging the intelligence and insights generated by digital payment solutions to power a wide range of merchant and consumer experiences.”