So far in-store NFC mobile payment capability has been available only for online and in-app payments. Masterpass also leverages advanced methods of payment security, including network tokenization.
Users can use the connected device of their choice to make payments online or in-app via Masterpass, without being restricted to specific operating systems, device manufacturers or device models. NFC contactless capability will first be available to Android device owners in the US.
The enhanced Masterpass service will be supported by financial institutions like Ally Bank, Associated Bank, Bank of America, Bank of the West, BMO Harris Bank, Capital One, Central Bank, Citi, Fifth Third Bank, First Hawaiian Bank, First Tech Federal Credit Union, KeyBank, People’s United Bank, Security Service Federal Credit Union, SunTrust and Virginia Credit Union.
Currently, Masterpass is available at online merchants or in-app including Firehouse Subs, Masabi, MLB.com and MLBShop.com, Office Depot and ParkMobile.
MasterCard’s solution will be live in Europe and the Middle East/Africa by the end of 2016. Additional roll out of the enhanced Masterpass service in North America, Europe, Latin America and the Caribbean, Middle East and Africa and Asia Pacific will continue through 2016 and into 2017, according to nfcworld.com.
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