MasterCard Introduces MasterPass

MasterPass is intended to enhance and simplify the physical and digital shopping experience.

BARCELONA – At the Mobile World Congress event, MasterCard introduced MasterPass, a digital service that allows consumers to use any payment card or enabled device to discover enhanced shopping experiences.

“Every device is becoming a shopping device,” said Ed McLaughlin, chief emerging payments officer for MasterCard, in a press release. “MasterPass brings together all of the ways we pay for things, from traditional plastic cards to digital wallets, and gives consumers the ability to make a payment from wherever they are and with one simple experience.”

MasterPass is the evolution of PayPass Wallet Services, which was announced last spring and has been in production trial with select merchants and issuers. 

Consumers around the world will now be able to sign up for the service through financial institutions in Australia and Canada by the end of March, and in the United States and the United Kingdom later in the spring and summer respectively. MasterPass will be available at more than 5,900 merchants.

The MasterPass suite of services includes:

 - MasterPass checkout services, which provide merchants a way to accept electronic payments regardless of     where the consumer may be. For in-store scenarios either at the register or in the aisle, MasterPass will support the use of NFC, QR codes, tags and mobile devices used at the point of sale.

 - MasterPass-connected wallets, which enable banks, merchants and partners to offer their own wallets. Consumers can securely store card information, address books and more in a secure cloud, hosted by an entity they trust. The wallet is open, which means that in addition to MasterCard cards, consumers can use other branded credit, debit and prepaid cards.

 -  MasterPass value added services, which include information such as account balances, real-time alerts and loyalty programs.