MasterCard (MasterCard) on the Barcelona Mobile World Congress (Mobile World Congress) on Monday announced the launch of mobile payment products MasterPass the market has been looking forward to this product will be integrated The consumer digital wallet service, and has a mobile friendly businesses online and entities checkout service, the marked U.S. credit card companies are breaking their own traditional brand shackles.
MasterCard in the past few years has been in the provision of online payment services, but this service has been its credit card center, users must fill out the card number, expiration date and security code, and most consumers are unwilling to on the phone to handle such procedures.
MasterCard International (MasterCard Worldwide) Jon Lambert (Jorn Lambert), this service will be open consumer-oriented financial institutions in Australia and Canada by the end of March, will then landed on the U.S. market this spring, summer the UK market.He said: "We are working with partners to make sure that everything can be achieved sensational success at the same time we do not want the user to the actual use of this service previously registered digital wallet."
MasterCard British retailer Argos and Boots, as well as American Airlines and other companies to launch this mobile payment products. In addition, BNP Paribas (BNP Paribas), Banco Santander (Banco Santander), Citibank, Bank of Sweden (, Swedbank has borrowed), UniCredit Bank (UniCredit) and Westpac Banking Corporation (Westpac) have been signed with MasterCard the contract, will support this service.
In this year's Mobile World Congress, the mobile payment is a hot topic. Although the number of retail applications explosive growth has been achieved, but the income earned by these applications is also unable to reach the height of the media publicity. Most retailers have developed their own payment system, which means that consumers must registration information in the system of individual retailers, respectively, and enter payment details.
MasterPass contains a digital wallet, allowing consumers to save in their phones all pay and promotions card details and delivery address. MasterCard said the service will accept credit cards and payment systems from competitors. More critical, MasterPass also includes another element, that is, for businesses to use digital checkout service, this service will be selected as MasterPass a payment - with Visa, MasterCard and PayPal are doing online very similar things - or as like a barcode, QR code appear on store merchandise, consumers can scan the QR code to pay.
Lambert said that the advantage of this new platform will be based on consumer location or purchase history and other information to integrate other services discount card. Phone (payment services) advantage is that the phone is an interactive device - we want to make sure to take full advantage of this advantage, rather than just let it play a plastic card to be able to operate the functions. If a retailer wants to offer discounts or loyalty points, then you can do it. "
MasterCard said it expects all merchants accept MasterCard will adopt this new payment system within two years. "Today, without which the site does not accept MasterCard;, which sites will not accept MasterPass after a period of time." Lambert said.
MasterCard facing fierce competition in the mobile payment market, the Visa also expected to be released this week for more news about digital wallet service V.me. UK market last week, PayPal announced the launch of a mobile-oriented businesses cheap credit card payment products, Square launched a similar service in the United States, iZettle service being launched on the European market.
For mobile operators, mobile payments have always been regarded as a
source of income; However, so far, the rate of return in this business is not
high enough, is not reached with the operators in the field of mobile Internet
infrastructure investment gold matches the horizontal. Lambert said that
while he welcomed the action taken by the competitors - some competitors have
received through their own system MasterCard - but businesses are less likely
to accept multiple platforms.
"In the real world, can only have a maximum of three (payment system)," he said.Online can be a few more, but I think that only a few can provide interoperability brand to survive on a website, you can not have both MasterPass, V.me, Google Wallet, iTunes and a variety of other payment services. "