Saks Fifth Avenue and Other Merchants to Accept MasterPass

Saks Fifth Avenue and Other Merchants to Accept MasterPass

May 10, 2016         Written By Lynn Oldshue

MasterPass by MasterCard has gained a set of new partners that will take its digital commerce platform to the next level. Among those new partners are luxury retailer Saks Fifth Avenue and fashion social commerce marketplace, Poshmark. Later this year, MasterPass will also be integrated into NAB Velocity, a payments platform from North American Bancard.

MasterPass by MasterCard operates similarly to digital payment platforms like PayPal, acting as a secure middleman between consumer financial information and online merchants. MasterPass stores payment account information for each user, but it never reveals that information to the merchant. The merchant may gather the name and shipping address of the customer from the MasterPass account to speed up the checkout process, but bank and credit card information are encrypted and locked away by MasterPass. The checkout process itself is still the same–the only difference is who receivees the financial information.

Featured Low Interest Card

Top Features: No annual fee; $150 statement credit after spending $1,200 in first 90 days; 0% on Purchases for 12 months

Over the last three years, MasterPass has seen slow but steady growth worldwide. It is now accepted at over 270,000 merchants in 29 different countries. Account holders do not need a MasterCard credit card or debit card in order to use MasterPass. Any compatible payment card can be uploaded into a user’s digital wallet, even if it comes from a competitor.

The information contained within this article was accurate as of May 10, 2016. For up-to-date information on any of the terms, cards or offers mentioned above, visit the issuer's website. Many of the offers on this article are from our affiliate partners, and LowCards.com may be compensated if you take action with any of our affiliate partners.

Review LowCards.com Editor’s Top Cards!

2020 Top Credit Cards by Category
Featured Fair Credit Card
Reflex Mastercard® Credit Card
EDITOR RATING
Featured Fair Credit Card
Reflex Mastercard® Credit Card

Applying for this card will securely direct you to the issuer's website.

Top Features: All credit types welcome to apply!

Featured Low Interest Card
ABOC Platinum Rewards Mastercard®
EDITOR RATING
Featured Low Interest Card
ABOC Platinum Rewards Mastercard®

Applying for this card will securely direct you to the issuer's website.

Top Features: No annual fee; $150 statement credit after spending $1,200 in first 90 days; 0% on Purchases for 12 months

Featured Bad Credit Card
First Digital NextGen Mastercard® Credit Card
EDITOR RATING
Featured Bad Credit Card
First Digital NextGen Mastercard® Credit Card

Applying for this card will securely direct you to the issuer's website.

Top Features: Reports to all three credit bureaus, perfect credit not required for approval

Featured Good Credit Card
Petal® Visa® Credit Card
EDITOR RATING
Featured Good Credit Card
Petal® Visa® Credit Card

Applying for this card will securely direct you to the issuer's website.

Top Features: No fees whatsoever. No late fee, international fee, annual fee, or any-other-kind-of-fee, fee


lynn-oldshue

About Lynn Oldshue

Lynn Oldshue has written personal finance stories for LowCards.com for twelve years. She majored in public relations at Mississippi State University.