MasterPass is a digital service that allows consumers to use any payment card or enabled device for shopping.
Consumers don’t have to enter detailed shipping and card information to complete their online shopping at MasterPass merchant websites, they can store MasterCard and other branded credit, debit and prepaid card information. With a click of the MasterPass button on a retailer website, the consumer can access their wallet of choice and authenticate with a password to checkout. In addition to MasterCard cards, consumers can use other branded credit, debit, prepaid and private label cards.
The MasterPass suite of services includes:
• MasterPass checkout services - provides retailers with a way to accept electronic payments online and in-store from any MasterPass connected wallet. When in-store, MasterPass will work with NFC and QR codes to provide consumer choice about the way to pay, whether with cards or mobile.
• MasterPass connected wallets - providing banks, retailers and other partners with their own branded MasterPass wallet or ability to connect their proprietary wallet to the MasterPass acceptance network.
• MasterPass value added services - integrating services such as loyalty programs.
In recent news, MasterCard and Belgium-based online payment processing services provider Ogone Payment Services have joined forces to integrate and deploy MasterPass.
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