Mastercard has unveiled, what they claim, is the foundation for the future of commerce with the new Masterpass global digital payment service which  enables consumers to their own trusted bank or credit union to make fast, simple and secure digital payments – across devices and channels – anywhere they want to shop be it online, in app and now in-store with contactless. 

Masterpass vision

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 tokenization, which ensures information is protected.

For a list of Masterpass online and in-app accepting merchants visit www.masterpass.com. In-store enabled merchants can be found here.

Omnichannel service

Mastercard is the first network to deliver an omni-channel, all-digital payment service for consumers, issuers and merchants leveraging the most advanced methods of payment security available today. 

Source & Copyright©2016 - MasterCard 

From purchasing a train ticket from your mobile device, to splitting and paying your restaurant bill right at the table, to buying your groceries with the tap of your phone in-store and booking a flight online, Masterpass simplifies the checkout experience.

Masterpas Availablity

Masterpass is currently available in 33 markets globally, with plans to expand to three more by the end of the year. The rollout of new Masterpass-enabled solutions:

• begins  later this month from issuers in the U.S.
• Europe and the Middle East/Africa will be the next markets where the converged Masterpass solution will be live by the end of 2016. 
• additional rollout of the enhanced Masterpass service in North America, Europe, Latin America & the Caribbean, Middle East & Africa and Asia Pacific will continue through 2016 and in to 2017.

Fraud protection

MasterCard have layered services in the MasterPass solution including tokenization with bank identification and verification of cardholders, Masterpass uses the most advanced security methods today to protect consumers from fraud.

---

CTMfile take: Omni-channel shopping, e.g. starting on your mobile in-store and completing the transaction at home on your desk top, is becoming a must for retailers. Using the large payment networks - VISA, MasterCard, and Amex - to do this is becoming easier and more integrated - otherwise they will lose huge share of the payments market. Your consumers and business customers will assume you provide an omnichannel experience, if not, they will go elsewhere.