Alternative Payment Solution: MasterpassSummary
Masterpass by Mastercard is a global payment service launched in 2013 as an extension of the PayPass wallet service. It allows users to store multiple card details and billing addresses for faster checkout online. Once details are saved it skips the process of entering card and shipping details for all future payments. It also allows users to make in-store payments using their smartphones by scanning a QR code or waving their NFC-enabled phones at POS terminals at partnered merchant stores. The payment solution was initially launched in Australia, Canada, the US, and the UK and later expanded across Europe, Asia, Africa, and the Middle East. The solution is now accepted in more than 40 countries globally.
Masterpass works on all web-enabled devices including desktop computers, mobile phones, and tablets. It is currently supported by 340,000 online websites and apps and is accepted at 6 million merchant locations globally, with more joining each month. Since no extra charges are associated with Masterpass in addition to regular interchange fees, it provides significant incentive to merchants to facilitate transactions with this solution.
Masterpass is supported by major payment schemes Mastercard, Maestro, Visa, American Express, Diners Club, and Discover, and is supported by major banks globally. Users can add their debit credit, prepaid, and loyalty cards to their Masterpass or connected wallet account. In the US, it has collaborated with more than 60 banks and financial institutions.
The report provides information and insights into alternative payment solution Masterpass, including -
- Detailed insight into its business
- Comprehensive coverage of its products and services
- Comparative assessment with key alternative payment solutions
- Information on its performance, including its revenue model
- The companys important events and milestonesScope
- In 2013, Masterpass was launhed by Mastercard.
- In the US, Masterpass has collaborated with more than 60 banks and financial institutions.
- In September 2016, Masterpass partnered with PayPal, enabling its users to make payments at Braintree merchants.
- In July 2017, partnered with Air Canada, enabling its users to book tickets on Air Canadas websites via Masterpass.Reasons to buy
- Gain insights into Masterpasss business operations, and key events.
- Gain insights into its product portfolio and revenue model.
- Assess the competitive dynamics in the alternative payments industry by comparing its performance against competitors.
Publisher Name : GlobalData