MasterCard has launched a platform and suite of services for banks, merchants and partners dubbed PayPass Wallet Services.
The PayPass Wallet Services includes the PayPass Acceptance Network (PayPass Online and PayPass Contactless), the PayPass Wallet and the PayPass API.
The PayPass Acceptance Network (PayPass Online and PayPass Contactless) enables merchants to accept electronic payments across channels, whether purchases are made in stores at the point of sale with Near Field Communication (NFC) technology or online using computers, tablets or smartphones.
The PayPass Wallet enables banks, merchants and partners to white-label their own wallets. It allows consumers to store payment and shipping information in one place. The wallet is open, which means that consumers can use American Express, Discover, Visa and other branded credit, debit and prepaid cards.
The PayPass API allows partners to connect their own digital wallets into the PayPass Acceptance Network, leveraging MasterCard’s check-out, fraud detection and authentication services and enabling their customers to make purchases where PayPass is accepted.
US airline company American Airlines and bookseller Barnes & Noble are set to incorporate the PayPass Online checkout button on their websites and American is set to integrate PayPass Wallet into its mobile application.
MasterCard is set to make PayPass Wallet Services available to partners in Q3 2012 initially in the US, Canada, UK and Australia.