Singapore is the first in Southeast Asia to offer MasterPass; digital wallets from DBS Bank, Maybank and OCBC Bank in Singapore already connected to MasterPass
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Singapore, 2 June 2014 – Online shopping in Singapore is now even simpler with the launch of MasterPassTM. MasterPass eliminates the need for consumers to enter detailed shipping and card information to complete their online shopping at MasterPass merchant sites. Consumers can securely store MasterCard and other branded credit, debit and prepaid card information address books and more. This simplifies the process of completing a transaction from any connected device, particularly those with smaller screens.
As consumers in Singapore move to a more digital lifestyle and demand new shopping experiences, MasterCard is continuing to lead the transition to digital payments and deliver solutions that are better, safer and faster. Shoppers in Singapore will be the first in Southeast Asia to experience the offering which promises a simplified payment experience while protecting the user’s card and personal details. By selecting “Buy With MasterPass” as the checkout option, customers reduce the risk of exposing their personal information over potentially unsafe networks and can look forward to more privacy as their details are not shared directly with merchants.
“Singapore is already an evolved market for digital payments, and we continue to see great potential for e-commerce growth. Consumers here have embraced a highly digital lifestyle, and will enjoy even greater convenience, accessibility and safety with the availability of MasterPass in Singapore. Beyond a platform that hosts digital wallets, MasterPass will also provide the technology for merchants to offer new and innovative services and features for shoppers. More importantly, its relevance to consumers by enabling seamless payment experiences will go beyond the online shopping world to even point-of-sale payments. With the convergence of technology and digital payments, every device will become a payment device ,” says Ms Julienne Loh, general manager, MasterCard Singapore.
MasterPass launched in February 2013, and in addition to Singapore, it is currently available in the US, UK, Canada, Australia, New Zealand, Italy and China. Wallet issuers in Singapore “live” with MasterPass include DBS Bank, Maybank and OCBC Bank in Singapore, with CIMB Bank expected to roll out their wallet to the public soon. MasterPass-connected wallets enable banks, merchants and other partners to offer their own branded wallets that extend and enhance their own consumer relationships. MasterPass is accepted at online merchants in Singapore, including Luxola, Shaw Theatres, Singapore Airlines, Singapore Airlines KrisShop Online, SISTIC and Zuji.
Payment technology providers AsiaPay, eNETS, MC Payment, Red Dot Payment and WireCard have also begun to avail MasterPass to their merchants. Today, over 40,000 merchants around the world accept the option to make online payments with MasterPass.
MasterPass will evolve to support the use of emerging technologies – NFC, QR codes and tags – for in-store purchases, based on the shopping experiences a merchant wants to make available to its customers. Consumers shopping at MasterPass merchants in future will also have access to additional value-added services including real-time alerts, account balances, purchase history, loyalty programs as well as offers and experiences.
Supporting Partner Quotes
“In the ambit of e-commerce today, consumers want a faster and simpler payment process. MasterCard delivers such a solution, shortening time and making payment a breeze for regular online shoppers. We believe with MasterPass as an additional payment option on our website, SIA customers will enjoy an even better checkout experience.”Foo Chai Woo, Divisional Vice President Sales and Marketing, Singapore Airlines Limited
“When it comes to buying movie tickets, we know our customers want their experience to be simple, quick and convenient. For this reason, we are continually innovating our online and mobile sales platforms to improve the purchasing experience for movie goers. We’re pleased to be among the early adopters of MasterPass, giving our customers the choice of a safe and convenient payment method to make their regular movie ticket purchases and enhancing their overall movie-going experience.” Mark Shaw, Executive Vice President, Shaw Organisation
“The growing interest in online shopping has been enthusiastically embraced and adopted by Singaporeans, extending to the purchase of event and concert tickets. To support this, we are constantly enhancing SISTIC digital platforms to better serve customers, including through our revamped website and our mobile app. MasterPass makes the SISTIC online experience even more convenient and at the same time ensures enhanced security for transactions. We are glad to be a partner of MasterCard and MasterPass, delivering an improved customer experience.”Kenneth Tan, Chief Executive Officer, SISTIC
“The customer experience is of utmost importance to our business. As a leading online travel agency, Zuji handles thousands of transactions in a day, and we want to ensure our customers have a positive and seamless experience on our site. MasterPass brings a value-add to the overall user experience – our customers have a quick and convenient way to check-out without compromising on safety and security.” Chan Tze Yuan, Head of Commercial, Zuji
“Luxola is dedicated to providing its customers with a fantastic shopping experience and we are confident that they will enjoy the speedy payment option that MasterPass will provide.” Ronan Hurley, Chief Operating Officer, Luxola
“We are pleased to launch MasterPass on KrisShop Online and to provide our customers with greater convenience and security for their online shopping.” Lee Hwee Ming, Executive Vice President, DFASS (Singapore) Pte Ltd (appointed Inflight Sales Concessionaire for Singapore Airlines KrisShop)
“The growth in e-commerce means that consumers are constantly on the lookout for simpler but no less secure shopping experiences. In making MasterPass available to all our eNETS merchants, we’re offering them an additional payment option and a simplified checkout experience for their customers, on top of the confidence in secure cyber transactions that consumers have come to expect when using eNETS.” Ang Sok Hong, Senior Vice President, Sales, NETS
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’s 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 Cashless Pioneers Blog and subscribe for the latest news on the Engagement Bureau.
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