MasterCard has launched a new digital payment service called MasterPass. It combines a secure ‘digital wallet’ for online shopping with the ability to use a mobile device for payments in high-street shops.
MasterPass is replacing Mastercard’s PayPass Wallet Services, which were announced around a year ago. The new service is launching next month in Australia and Canada, with the USA following in the spring and then the UK in the summer.
Technologies supported by MasterPass include NFC and QR codes. In addition, it’ll enable consumers to store credit, debit and prepaid cards that come from providers other than MasterCard.
Ed McLaughlin, chief emerging payments officer at MasterCard, said “Every device is becoming a shopping device. 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.”