MasterPass Expands to More Merchants
MasterPass, MasterCard’s digital wallet, will now be an acceptable payment method at several major retailers. Some of these include Blue Nile, Office Depot, Broadway.com, Chegg, Shop.com, CheapO Air, Neiman Marcus and Rue La La. MasterPass can also be used to donate money to the American Red Cross on the organization’s website.
MasterPass functions like most digital wallets. A user downloads an app to his phone, uploads card information for credit and debit card accounts, and then uses the phone as the method of payment at checkout. The terminal picks up on radio signals sent from the phone, so all a user has to do is wave the phone in front of the register to pay.
On the Internet, the waving or swiping is replaced by the ability to log into a MasterPass account and pay for an item much like someone would with PayPal. No long credit card numbers to fill out; MasterPass completes that information for you.
“Consumers like shopping but paying for things online can be challenging. MasterPass helps turn every online payment experience into an express checkout lane,” Michael Cyr, Group Executive for North America Market Development at MasterCard, said in a statement.
MasterPass faces major competition with Google Wallet, Apple Pay and other digital wallets. Expansions like this are essential for the processor to keep up with the competition.