Barcelona, SPAIN – February 27, 2017 – Oracle and Mastercard today announced a global partnership designed to deliver a streamlined digital payment experience to the retail and hospitality industries. The partnership will initially focus on three needs for restaurants, hotels and retail stores:
In-Store Experience – Oracle and Mastercard will partner to develop and scale enhanced in-store payment experiences including Qkr! with Masterpass. This is a mobile app that enables consumers to seamlessly order and pay for goods and services via their smart phones without having to wait in line or for a restaurant server. This integration will make transactions simple, convenient and secure and remove friction for the customer.
- Operational Efficiencies – Rather than develop and implement separate payments solutions for the in-store and online operations, retailers can benefit from a fully-integrated digital payment and fraud prevention offering through Mastercard Payment Gateway Services.
- Cross-Channel Consistency – The integration of Masterpass, the digital payment service from Mastercard, into Oracle products allows retailers to provide a seamless check-out experience across different channels.
Mastercard and Oracle are already working with joint partners such as wagamama, Carluccio’s, Young & Co.s Brewery and Geronimo Pubs. They are using Qkr to let their customers order additional items during meals, pay at the table when they are ready and split the bill with others.
Commenting on the announcement, Mike Webster, SVP and general manager of Oracle Retail and Oracle Hospitality, said: “We’re excited to build on the success of our joint initiatives in the UK and to expand our partnership globally. Our two companies bring together a powerful combination of assets from which we can really help shape the future of digital commerce, deliver payment innovation and improve sales for our customers and partners around the world.”
“With close to 80 percent of consumers using technology at some point along their shopping journey, Mastercard is committed to unlock omni-channel commerce for every device and delivering convenient experiences to users at-home, in-stores and on-the-go”, adds Chris Fendley, SVP Merchant Development, Mastercard. “Together with Oracle, we can help retailers and hospitality providers connect with their customers in more engaging ways while enabling them to grow their businesses with scale, speed and security.”
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 on the Engagement Bureau.