MasterCard's already got PayPass contactless payment terminals in various retailers across the country, and today at CTIA the company announced that it's expanding the service with PayPass Wallet Services. PayPass Wallet Services actually consists of three different parts — PayPass Wallet, PayPass Online and PayPass API — to make it easier for users to buy goods wherever they shop. PayPass Wallet allows users to store both payment and shipping info in one place, and it's worth noting that non-MasterCard cards are able to be used with the service. The Wallet system is available for companies as a white label service, or those entities with existing wallet systems can use the PayPass API to tie their services into MasterCard's PayPass Acceptance Network.
With the PayPass Online service, customers can use the shipping and payment information stored in their PayPass Wallet to purchase goods online with a one-click checkout process that eliminates the need to enter that information. Users will simply need to click on the Buy With PayPass checkout button on a website and be done. MasterCard says that American Airlines and Barnes & Noble will be among the first companies to build the PayPass checkout button on their sites, and American Airlines will also be building PayPass Wallet into its mobile app. Of course, users will also be able to use an NFC-enabled to pay for things using the contactless PayPass terminals. MasterCard says that it'll be making the PayPass Wallet Services available in the third quarter of this year.
While there are already other digital wallet services in the works and in the market, MasterCard's solution sounds like it could be worth checking out, especially its one-click payment option for websites. The fact that other, non-MasterCard cards can be used is also welcome. If you'd like to read up a bit more on the PayPass Wallet Services, you can find MasterCard's announcement down below. How many of you are interested in making the jump to a digital wallet like MasterCard's? Does the idea of storing your payment information with one service for one-click online purchases and NFC contactless payments so like something you'd be into?
MasterCard Simplifies Shopping with Launch of PayPass Wallet Services
May 7, 2012
Platform and Services Enable Merchants, Banks and Partners to Offer the Next Generation of Digital Payments
American Airlines, Barnes & Noble Among Initial Partners
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NEW ORLEANS, May 7, 2012 /PRNewswire/ — CTIA BOOTH # 6135 – MasterCard (NYSE:MA) today announced PayPass Wallet Services, a new global offering for banks, merchants and partners that will make it faster and easier for their customers to make purchases in stores or online by allowing them to securely pay with a simple click of the mouse, touch of the tablet screen or tap of the smartphone.
PayPass Wallet Services delivers three distinct components — PayPass Acceptance Network (PayPass Online and PayPass Contactless), PayPass Wallet and PayPass API. These services enable a consistent shopping experience no matter where and how consumers shop, as well as a suite of digital wallet services, and developer tools to make it easier to connect other wallets into the PayPass Online acceptance network.
American Airlines and Barnes & Noble will be among the first merchant partners to incorporate the PayPass Online checkout button on their websites, and American will integrate PayPass Wallet into its mobile application.
“Consumers are looking to pay for goods when, how and where they choose. Merchants want flexibility to easily accept digital payments so they can convert more browsers to buyers both online and in store,” said Ed McLaughlin, chief emerging payments officer, MasterCard. “We realize that when it comes to payments, no single wallet will rule them all. PayPass Wallet Services simplifies the shopping experience while providing flexibility and choice to merchants, banks and consumers.”
PayPass Wallet Services includes:
PayPass Acceptance Network (PayPass Online and PayPass Contactless) – Provides a globally consistent way to help merchants accept electronic payments across multiple channels whether the purchase is made in a store at the point of sale with Near Field Communication (NFC) technology or online using a computer, tablet or smartphone. PayPass Online also provides consumers with a simple check-out process by eliminating the need to enter detailed shipping and card information with every purchase.
PayPass Wallet – A full suite of digital wallet solutions enabling banks, merchants and partners to white label their own wallets. It makes online shopping safe and easy by allowing consumers to store payment and shipping information in one, convenient and secure place. The wallet is open, which means that consumers can use American Express, Discover, Visa and other branded credit, debit and prepaid cards.
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 wherever PayPass is accepted – online and in store.
MasterCard will make PayPass Wallet Services available to partners in the third quarter of 2012, initially in the U.S., Canada, U.K. and Australia and, subsequently, will include other countries. PayPass Wallet Services will be expanded to the point of sale over time to create an end-to-end shopping experience for consumers providing additional value-added services such as: at-a-glance account information before making a purchase; spending controls and alerts received in real time; and delivery of targeted offers, coupons and enhanced loyalty programs.
“At American Airlines, we’re passionate about giving our customers more flexibility and functionality on their mobile devices,” said Richard Elieson, managing director, Interactive Marketing at American Airlines. ”By integrating PayPass into our mobile app, payment transactions become fast and easy and provide the security you would expect from a brand like MasterCard.”
“Consumers are at a pivotal point now where smartphone adoption has exploded and well over 50 percent of Americans now own one,” said Marc Parrish, vice president of retention and loyalty marketing for Barnes & Noble.com. “The technology that will allow customers to make mobile payments at the point of sale has already begun to make a difference, and Barnes & Noble is proud to be leading retail in this technology shift.”
Leading merchant, financial institutions and technology partners that are working with MasterCard to support the launch of PayPass Wallet Services include:
Financial institutions: Banesto, Bank of Montreal, Commonwealth Bank, Citibank, EURO6000, Fifth Third Bank, Grupo Banco Popular, Grupo BBVA, ICBA, Intesa Sanpaolo, Metro Bank, National Bank of Canada, PSCU, RBS Citizens Financial Group, SEB Kort AB Sweden, Sovereign Bank, Swedbank Sweden and Westpac.
Merchants: American Airlines, Barnes & Noble, Jagex, JB Hi-Fi, MLB Advanced Media (MLB.com), Newegg, Runningshoes.com, TigerDirect.com and Wine Enthusiast Companies.
Technology partners: Apriva, Bango, Beanstream, CardinalCommerce, C-SAM, Digital River, Intel, Kony Solutions, Inc., Local Offer Network, mFoundry, Moneris Solutions, Ogone Payment Services, Sage Pay, SIA and Vantiv.