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MasterCard Introduces PayPass Wallet Services

 

May 15 - MasterCard has announced PayPass Wallet Services, a new global offering for banks, merchants and partners that will make it faster and easier for their customers to make purchases in stores or online by allowing them to securely pay with a simple click of the mouse, touch of the tablet screen or tap of the smartphone.

PayPass Wallet Services delivers three distinct components — PayPass Acceptance Network (PayPass Online and PayPass Contactless), PayPass Wallet and PayPass API. These services enable a consistent shopping experience no matter where and how consumers shop, as well as a suite of digital wallet services, and developer tools to make it easier to connect other wallets into the PayPass Online acceptance network.

American Airlines and Barnes & Noble will be among the first merchant partners to incorporate the PayPass Online checkout button on their websites, and American will integrate PayPass Wallet into its mobile application.

“Consumers are looking to pay for goods when, how and where they choose. Merchants want flexibility to easily accept digital payments so they can convert more browsers to buyers both online and in store,” said Ed McLaughlin, chief emerging payments officer, MasterCard. “We realize that when it comes to payments, no single wallet will rule them all. PayPass Wallet Services simplifies the shopping experience while providing flexibility and choice to merchants, banks and consumers.”

PayPass Wallet Services includes:

MasterCard will make PayPass Wallet Services available to partners in the third quarter of 2012, initially in the U.S., Canada, U.K. and Australia and, subsequently, will include other countries. PayPass Wallet Services will be expanded to the point of sale over time to create an end-to-end shopping experience for consumers providing additional value-added services such as: at-a-glance account information before making a purchase; spending controls and alerts received in real time; and delivery of targeted offers, coupons and enhanced loyalty programs.

“At American Airlines, we’re passionate about giving our customers more flexibility and functionality on their mobile devices,” said Richard Elieson, managing director, Interactive Marketing at American Airlines. ”By integrating PayPass into our mobile app, payment transactions become fast and easy and provide the security you would expect from a brand like MasterCard.”

“Consumers are at a pivotal point now where smartphone adoption has exploded and well over 50 percent of Americans now own one,” said Marc Parrish, vice president of retention and loyalty marketing for Barnes & Noble.com. “The technology that will allow customers to make mobile payments at the point of sale has already begun to make a difference, and Barnes & Noble is proud to be leading retail in this technology shift.”

About MasterCard Worldwide
MasterCard (NYSE: MA), www.mastercard.com, is a global payments and technology company. It operates the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s 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 Cashless Conversations Blog and subscribe for the latest news.


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