Mastercard Removes Digital Payment Barriers – Gives Consumers Freedom to Shop Across Devices And Channels With Masterpass
Mastercard First Network to Deliver Omni-Channel All-Digital Payment
Service with Masterpass
Evolved brand identity reinforces company’s strategy for the digital
era
PURCHASE, N.Y.–(BUSINESS WIRE)–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 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. 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
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.
Masterpass is currently available at hundreds of thousands of merchants
online or in-app including Firehouse Subs, Masabi, MLB.com and
MLBShop.com, Office Depot and ParkMobile. Consumers will now be able
to use Masterpass at the more than five million merchant locations in 77
countries that accept contactless payments including BJ’s Wholesale
Club. Contactless capability will first be available to Android
device owners in the U.S.
Merchants who will deploy Masterpass in the coming months include JetBlue,
Saks.com, Lord and Taylor.com, Subway app and The
Cheesecake Factory app.
Through the bank or issuer you’ve chosen
Masterpass uniquely empowers issuing partners to deliver a bank-branded,
all-digital payment solution. More than 80 million accounts will be
automatically enabled through issuing partners as the service rolls out
globally. 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 supporting the enhanced Masterpass experience
include Ally Bank, Associated Bank, Bank of America, Bank of the
West, BMO Harris Bank, Capital One, Central Bank, Citi, Fifth Third
Bank, First Hawaiian Bank, First Tech Federal Credit Union, KeyBank,
People’s United Bank, Security Services Federal Credit Union, SunTrust
and Virginia Credit Union. 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 Masterpass-enabled solutions from issuers in the U.S.
begins later this month. 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.
“With billions of cardholders across the globe, we are working with our
issuers and merchants to ensure that we’re delivering digital payments
that support consumer expectations for a familiar and secure payment
experience both now and in the future,” said Craig Vosburg, president of
North America, Mastercard. “The expansion of Masterpass represents 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 and consumer experiences.”
Evolving the brand identity
The digitization of commerce and increased connectivity of consumers is
driving a digital transformation that will provide seamless payment
choices. To reflect a readiness and optimism about this transformation,
Mastercard is introducing an evolution of its brand identity –
simplified, modernized and optimized for 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, Mastercard. “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.”
The evolved brand identity, including the most comprehensive brand
design system ever introduced globally within Mastercard, will be rolled
out to all Mastercard products, communications, and experiences,
starting with Masterpass later this month, and across Mastercard
beginning in the fall.
About Masterpass
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.
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 is currently available in 33 markets globally,
with plans to expand to three more by the end of the year. 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.
Partner Quotes
“With the increased connectivity of consumers, delivering an
experience that suits the always-on lifestyle of our customers is
critically important,” said David Godsman, Emerging Payments
executive at Bank of America. “With MasterPass by MasterCard,
our cardholders will have one more choice in how they pay for their
items securely with a simplified checkout experience.”
“We are entering an exciting time for our customers with respect to
payment solutions,” said Paul Appleton, executive vice president,
consumer banking product and payment solutions, Bank of the West.
“The forthcoming mobile wallet rollout is an example of our deliberate
approach in developing digital payment experiences that will allow our
customers to make shopping easier and to make purchases in the way they
choose.”
“Masterpass makes the checkout process easier and more convenient for
our customers, providing them with a great customer experience,”
said Patrick Strieck, Managing Director, U.S. Retail and Small Business
Payments, BMO Harris Bank. “It’s fast, it’s streamlined, and
it’s what our customers want.”
“The ‘new normal’ for customer engagement means giving customers the
ability to buy something wherever and whenever they choose. The
Masterpass digital payment service will allow us to provide our
customers with another convenient and easy way to pay,” said Paul
Moreton, vice president, digital product management, Capital One
Financial Corporation. “We are focused on innovation and the
evolution of digital products and services. Our goal is to provide our
customers with payment options that help them succeed and simplify their
lives.”
“Citi and Mastercard have worked closely together to launch
innovative payment solutions around the world, including the first
digital wallet in the U.S. with Citi Masterpass. Since then, we have
collaborated to launch wallets in Mexico and India. We are excited to
continue to leverage Masterpass’s new offerings to deliver even more
value to our clients.” – Barry Rodrigues, Global Head of Digital
Payments, Citi
“Fifth Third Bank is excited to offer Fifth Third Masterpass – one of
the first bank digital wallets adding both mobile payments and online
check-out in the marketplace,” said Randy Koporc, head of Payments
and Commerce Solutions for Fifth Third Bank. “By offering
digital payment solutions, we are able to provide our customers safe and
convenient ways to pay using their mobile device.”
“At First Tech, we have established a strong precedent of
providing our members with the most cutting edge payment and security
options, from the introduction of chip-and-pin to biometric
verification, and now Masterpass,” said Greg Mitchell, CEO of First
Tech Federal Credit Union. “Masterpass provides the best of both
worlds for our members – incredibly robust security combined with an
easy-to-use interface that make digital transactions effortless.”
“The Saks Fifth Avenue customer experience is extremely important to
us, whether in our stores or online,” said Dion Rooney, EVP, HBC
Digital. “Masterpass is an integral component of providing our
customers with seamless and secure shopping at Saks.com.”
“We want to provide options for our clients to pay how they want
through a mobile wallet that offers convenience, ease of use and value.
Our partnership with Masterpass gives clients new ways to pay that meets
their everyday needs.” – Jason Rudman, EVP Head of Consumer Payments
and Digital Banking, KeyBank
“We always strive to provide new ways to expand mobile payment
options for our customers,” said Ted Josephson, FVP, Payments and
Direct Banking at People’s United Bank. “Masterpass by
Mastercard’s global acceptance and security are a perfect fit for the
chip-enabled People’s United Mastercard® debit card, which also includes
a cash back Prewards program, identity theft alerts, and price
protection for qualifying purchases.”
“Consumers today are constantly connected, and at SunTrust, we want
to meet the needs of their always-on lifestyle,” said Beverly
Ladley, Head of Retail Products and Consumer Lending, SunTrust.
“Masterpass enables us to not only provide a simple and secure way
for our cardholders to pay wherever and however they want, but also
customize our solution to offer a truly differentiated platform.”
“Excellence in service and hospitality is a hallmark of The
Cheesecake Factory® and we are always looking for ways to further
enhance our guest experience,” said Doug Benn, Chief Financial
Officer of The Cheesecake Factory Incorporated. “Our CakePay™
mobile app provides our guests with the convenience of an expedited
checkout from their smartphones and the integrated Masterpass by
Mastercard payment functionality enables a simplified checkout
experience.”
“Our members want their payment experience to be secure, convenient,
and straightforward,” said Deb Wreden, senior vice president of
product and delivery strategy at Virginia Credit Union, a
Richmond-based financial cooperative with 250,000 members. “We’re
pleased to partner with Mastercard to bring this technology to our
members.”
Contacts
Mastercard
Sarah Ely, 914-249-6714
sarah.ely@mastercard.com
