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MasterCard: Singapore, Canada, US, Kenya and South Korea Most Ready to Adopt Mobile Payments
Credit card giant MasterCard is debuting a new study today, called the MasterCard Mobile Payments Readiness Index, which analyzed 34 countries and their readiness to use three types of mobile payments: person to person, mobile commerce and mobile payments at the point of sale. MasterCard actually developed a proprietary algorithm that takes publicly available data as well as MasterCard-owned data to rank countries on their potential to adopt mobile payments.
The study showed that while it is still early stages for mobile payments adoption, Singapore, Canada, the U.S., Kenya and South Korea are the most prepared markets to accept this technology. Additional findings include that young affluent consumers between the ages of 18 and 34 years old are the most willing to use mobile payments as they recognize the value of using mobile payments instead of cash or payment cards. While this demographic was predominantly male in most countries, women showed higher levels of interest in countries such as China, Egypt and the Philippines.Read original article
MasterCard Introduces Digital Wallet
MasterCard said Monday it’ll launch a digital wallet later this year, a mobile payment system designed to speed consumer purchases online or via mobile apps.
MasterCard currently operates PayPass services at stores, a contactless payment system used by customers with their key fobs. But the new digital effort — called PayPass Wallet Services — is an attempt to expand it to online stores and mobile phone users. It’ll be available to merchants and consumers in the third quarter, initially in the U.S., Canada, U.K. and Australia.Read original article
MasterCard Makes the Case for Ditching Dirty, Inefficient Cash
MasterCard is making the case for eliminating cash — not because credit is better, but because it’s cheaper.
The credit card company, located in aptly named Purchase, New York, explained in a blog post today that cash is expensive and inefficient to use, and yet 85 percent of the world’s transactions still rely on it.Read original article
MasterCard To Launch Daily Deals Service; Seen By End Of 2Q
MasterCard Inc. is launching a new service offering its bank and merchant clients a way to deliver targeted deal offers to consumers, making the credit-card processor the latest company to charge into the daily-deals arena.
The rapid growth of Chicago-based deals site Groupon Inc. has encouraged a host of companies, from American Express Co. to Bank of America Corp., to look for ways to capture a piece of the red-hot market.Read original article
Mobile Payments Create Revenue Streams For MasterCard
No matter how good a company is, it faces challenges to its business model from rivals. Many threats these days come in the form of new technology devices.
Take MasterCard, which provides payment services to over 30 million merchants and 975 million users who carry its credit card worldwide.Read original article