Mastercard Removes Digital Payment Barriers – Gives Consumers Freedom to Shop Across Devices And Channels With Masterpass in the United States

In an important industry milestone, Mastercard today unveiled the foundation for the future of commerce with the new Masterpass global digital payment service.

This enhanced solution enables consumers to look no further than their own trusted bank 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. 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.

Masterpass by Mastercard simplifies everyday payments

Masterpass is also coming to a store near you as Mastercard today announced it will enable NFC contactless payment capabilities providing more than five million merchant locations in 77 countries where consumers can use Masterpass to tap and pay. NFC contactless capability will first be available to Android device owners in the U.S.

Through the bank or issuer you’ve chosen

Masterpass uniquely empowers issuing partners to deliver a customized, bank-branded all-digital payment solution. 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 initial partners to support the enhanced Masterpass experience, enabling reach to tens of millions of cardholders. By layering services including tokenization with bank identification and verification of cardholders, Masterpass uses the most advanced security methods today to protect consumers from fraud.

The rollout of enhanced Masterpass-enabled solutions from issuers in the United States will begin later this month. By the end of 2016, Europe and the Middle East/Africa will be the next markets where the converged Masterpass solution will be live. Additional global rollout of the enhanced Masterpass service in North America, Europe, Latin America & the Caribbean, Middle East & Africa and Asia Pacific will continue through 2017.

 “With billions of cardholders across the globe, we are working with our issuers to ensure that we’re delivering a digital foundation that supports consumer expectations for a familiar and secure and payment experience both now and into the future,” said Craig Vosburg, president of North America.  “The expansion of Masterpass represents both the next phase of our digital infrastructure and also 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 experiences and address consumer needs.”

Evolving the Brand Identity

The digitization of commerce processes and increased connectivity of consumers is driving a digital transformation that will provide seamless payment choices.  To reflect our readiness and optimism about this transformation, we are introducing an evolution of our brand identity---simplified, modernized, and optimized for relevance in an increasingly digital world.  The brand identity starts with a new brand mark, and plays out in a holistic design system that will bring a forward-thinking, sophisticated, and inclusive brand expression to every touch point around the world.

“Mastercard is one of those unique brands that is instantly recognizable around the world,” said Raja Rajamannar, chief marketing and communications officer. “To thrive in this new digital world where business moves faster than ever, we want to modernize and elevate the brand in a design that is simple and elegant, yet unquestionably Mastercard.”

Beginning this fall, the evolved brand identity, including the most comprehensive brand design system ever introduced within Mastercard, will be incorporated on all Mastercard products, communications, and experiences, including Masterpass.

 

About Masterpass                                                                                              

Masterpass is currently available in 32 markets globally, with plans to expand to three more by the end of the year. The Masterpass vision is to support all forms of commerce in order to address the widest range of merchant experiences and consumer needs. Masterpass allows issuers to design and develop their own branded digital payment solution using Masterpass APIs and SDKs, while merchants can use Masterpass APIs and SDKs to enable checkout online and within mobile apps.

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. It leverages the most advanced methods of payment security available today, including tokenization, which ensures information is protected. 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. For a list of Masterpass online and in-app accepting merchants visit www.masterpass.com, in-store enabled merchants can be found here.

About Mastercard

Mastercard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. Mastercard products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MastercardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news.