MasterCard and PAY.ON are enhancing the MasterPass digital wallet solution by making MasterPass immediately available to more than 110 payment service providers (PSPs) via PAY.ON’s white label global payment gateway. MasterPass acceptance is possible for more than 56,000 web shops worldwide that route payments through PAY.ON’s partners.David Klemm, Head of Acceptance Development Germany at MasterCard, explains the key benefit of the MasterPass solution: “MasterPass offers merchants – on the web, via in-app payments on mobile devices, and, in the future, in stores – a user-friendly solution that simplifies payment for customers by bundling together multiple payment and customer loyalty cards, and minimizing shopping cart abandonment.”
Wolfgang Berner, Senior Vice President Product at PAY.ON, added: “We are pleased to further build upon our close partnership with MasterCard. With MasterPass, merchants and shoppers have a multifunctional payment method that allows for centralized and secure use of all available online payment methods. This sets a new standard for digital wallets, or eWallets.”
MasterPass simplifies payment processes
When shoppers have to repeatedly enter account details and address information, it leads to higher rates of shopping cart abandonment. The continuing trend toward shopping on mobile devices therefore requires innovative, customer- and merchant-friendly payment solutions. With MasterPass, MasterCard is focused on the consumer desire for a fast, secure and simple payment option.
MasterPass combines several technologies for the first time, creating a digital wallet that stores payment and shipping information in a highly secure data center at the issuing bank, and then automatically transmits cardholder information to the merchant during the payment process. Payment is therefore reduced to a few clicks, and due to the connection with the bank’s internal systems, is quicker, easier to use, and more secure.
Unlike some competing products, MasterPass is not a niche solution, but rather aims to make digital wallet payments ubiquitous for users. Merchants who implement MasterPass have a significant opportunity to improve customer retention.
PAY.ON’s COPYandPAY boosts MasterPass acceptance with immediate integration in an active, fully set up widget-based payment page
PAY.ON and MasterPass offer the latest payment technology and follow the same principle; ultimate simplicity and efficiency for end users. MasterPass is available via PAY.ON’s COPYandPAY, which allows merchants to quickly enable payment processing within their online shop by incorporating a few lines of code. The fully set-up, immediately active payment page includes nearly 100 payment methods and comprehensive fraud prevention tools.
Wolfgang Berner, Senior Vice President Product at PAY.ON, concluded: “COPYandPAY’s widget-based payment page requires one single, unified API to connect to PSPs globally. It is fully PCI-compliant and links to more than 300 acquirers and alternative payment methods worldwide. Immediate integration of MasterPass into COPYandPAY reinforces the suitability of our widget-based payment page for PSPs and their merchants looking for the perfect payment set-up.”