Masterpass empowers issuing partners to deliver a bank-branded, all-digital payment solution. More than 80 million accounts will be automatically enabled through issuing partners as the service rolls out globally. The enhanced digital payment functionality helps issuers differentiate existing products, including mobile banking apps, by integrating digital payment functionality and new services like purchase alerts and paying with points.
The Masterpass vision is to support all forms of commerce in order to address the widest range of merchant experiences and consumer needs. Masterpass stores all payment information, including card details from both Mastercard and other payment networks, shipping information, and payment preferences in one convenient, secure place. With Masterpass, you can check out online or in merchant apps by simply clicking the Masterpass button and authenticating to complete the transaction. In-store, simply tap to pay at contactless-enabled merchants and get on your way. Masterpass also leverages the most advanced methods of payment security available today, including network tokenisation, which ensures information is protected.
Parts of the Middle East will see the converged Masterpass solution live by the end of 2016. Additional rollout of the enhanced Masterpass service in the Middle East and Asia Pacific will continue through 2016 and into 2017.
“With billions of cardholders across the globe, we are working with our issuers and merchants to ensure that we’re delivering digital payments that support consumer expectations for a familiar and secure payment experience both now and in the future,” said Craig Vosburg, President of North America, Mastercard. “The expansion of Masterpass represents an important evolution of our business. We’re packaging the intelligence and insights generated by digital payment solutions to power a wide range of merchant and consumer experiences.”
The Masterpass vision is to support all forms of commerce in order to address the widest range of merchant experiences and consumer needs. Masterpass stores all payment information, including card details from both Mastercard and other payment networks, shipping information, and payment preferences in one convenient, secure place. With Masterpass, you can check out online or in merchant apps by simply clicking the Masterpass button and authenticating to complete the transaction. In-store, simply tap to pay at contactless-enabled merchants and get on your way. Masterpass also leverages the most advanced methods of payment security available today, including network tokenisation, which ensures information is protected.
Parts of the Middle East will see the converged Masterpass solution live by the end of 2016. Additional rollout of the enhanced Masterpass service in the Middle East and Asia Pacific will continue through 2016 and into 2017.
“With billions of cardholders across the globe, we are working with our issuers and merchants to ensure that we’re delivering digital payments that support consumer expectations for a familiar and secure payment experience both now and in the future,” said Craig Vosburg, President of North America, Mastercard. “The expansion of Masterpass represents an important evolution of our business. We’re packaging the intelligence and insights generated by digital payment solutions to power a wide range of merchant and consumer experiences.”
MasterCard recently evolved its brand identity to reflect readiness and optimism about digital transformation that will provide seamless payment choices. "Mastercard is one of those unique brands that is instantly recognisable around the world,” said Raja Rajamannar, Chief Marketing and Communications officer, Mastercard. “To thrive in this new digital world where business moves faster than ever, we want to modernise and elevate the brand in a design that is simple and elegant, yet unquestionably Mastercard.”
The evolved brand identity, including the most comprehensive brand design system ever introduced globally within Mastercard, will be rolled out to all Mastercard products, communications, and experiences, starting with Masterpass later this month, and across Mastercard beginning in the fall.
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Masterpass is currently available in 33 markets globally, with plans to expand to three more by the end of the year. Consumers will now be able to use Masterpass at the more than 5 million merchant locations in 77 countries that accept contactless payments, with the contactless capability to be rolled out progressively around the world. View the list of Masterpass online and in-app accepting merchants and see which in-store merchants accept contactless payments.
