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Tuesday, May 8, 2012

MasterCard prepares to launch its mobile wallet in the autumn

MasterCard has announced a new digital payment service called PayPass Wallet Services. It’ll enable MasterCard’s banking partners to create their own digital wallets for online shopping - with consumers able to add any credit, debit and prepaid cards - and will also offer in-store NFC payments using compatible mobile phones. In addition, retailers will be able to include MasterCard’s check-out, fraud detection and authentication services into their own internet-connected transaction systems.

PayPass Wallet Services will be available to MasterCard partners from third quarter of 2012 in the UK, the USA, Canada and Australia. Other countries will be added in the future, along with additional services such as spending controls, loyalty schemes and targeted offers.

Ed McLaughlin, chief emerging payments officer at MasterCard, said “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. 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.”

 

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Categories: Retailing, Applications, NewsNumber of views: 1501

Tags: ukusacanadapaymentsmastercardaustralia

1 comments on article "MasterCard prepares to launch its mobile wallet in the autumn"

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Philip Cohen

5/8/2012 12:33 PM

“To use PayPass Wallet, consumers will sign up and provide information for as many as 25 credit cards, including brands other than MasterCard, plus shipping information. When making an online or mobile purchase, they will be able to choose a card and a shipping destination from among the selections they've entered.”

“The wallet is open, which means that consumers can use American Express, Discover, Visa and other branded credit, debit and prepaid cards.”

Goodbye PreyPal; I can’t say it has been nice knowing you …

PS: Guys it’s not only for phones; you can still use the plastic …

eBay / PayPal / Donahoe: Dead Men Walking

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