Spain becomes the fourth European country offering MasterPass™ services to financial institutions, merchants and consumers.
Banks and financial institutions will be able to offer their own branded digital wallets that extend and enhance their own consumer relationships.
eDreams, Logitravel and Atrápalo are some of the first Spanish online merchants that will add to the more than 30,000 worldwide merchants that already accept MasterPass.
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Madrid, 12 February 2014 – The digital payment solution from MasterCard, MasterPass, is now available in Spain thanks to the agreements reached with several financial institutions and merchants across the country. Main Spanish financial entities are already working in the development of MasterPass to offer their clients this new digital payment solution that enhances the shopping experience, both online and in physical stores.
MasterPass enables consumers to make online payments in a comfortable, fast and safe way by removing the need for consumers to enter detailed shipping and card information to complete their online purchases. This simplifies and makes more comfortable the process of completing the purchase process of any product from any connected device and delivers an overall better payment experience for consumers.
For financial entities, MasterPass is a service that can be easily customized and commercialized and that allows them offering to their clients the option of making payments with digital wallets. Meanwhile, merchants accepting MasterPass will benefit -with a minimum integration impact- of accepting a modern way of payment, extended worldwide and with all the guarantees of the MasterCard brand. This means that merchants can increase their sales and improve their online purchase ratios.
Currently over 30,000 merchants globally already accept the option to make online payments with MasterPass. From now on Spanish consumers will also be able to use this service to make purchases from any electronic device in thousands of online stores all around the world. Merchants including Rakuten.com in the United States, Boots.com and Lastminute.com in UK already accept payments through MasterPass. In Spain, eDreams, Logitravel and Atrápalo are some of the first online merchants that are working to introduce MasterPass to their shoppers.
“Consumer habits are changing radically and online purchase volume is growing rapidly, and not just through personal computers or laptops,” stated Ovido Egido, Country Manager for MasterCard Spain. “The current technology revolution and the proliferation of smartphones and tablets in our country mean that any device is becoming a shopping device, as highlighted by a research published by the Online Business School that stated that mobile commerce already represents 11% of online commerce in Spain. In this context, MasterPass becomes a digital payment solution with great potential for merchants, consumers and financial institutions.”
As MasterPass evolves, it will provide consumers with access to additional value-added services including real-time alerts, account balances, purchase history as well as offers, discounts and experiences.
MasterPass will also support the use of emerging technologies for in-store purchases, based on the shopping experiences a merchant wants to make available to its customers. “We are developing tools based on new technologies such as NFC or QR codes with the aim of breaking the current barriers between online and physical purchases”, stated Ovidio Egido.
As stated by Milan Gauder, Head of Emerging Payments Europe at MasterCard, MasterPass’ success lays in the variety of services it offers and environments where it is capable to operate: “MasterPass has been designed with a wide range of partners in mind, and allows the user to influence their experience based on their business needs and the changing industry dynamics. MasterPass is an open service that fits any need for consumers, financial institutions and merchants.”
After its launch in the UK, followed by recent announcements in Italy and Sweden, Spain becomes the fourth European country to offer MasterPass services. MasterPass is available in the USA, Canada and Australia, and was recently announced in Brazil. Throughout 2014, it will arrive to several other markets around the world.
For more information on MasterPass, please visit our digital press kit.
You can also find an explanatory video about MasterPass in the following link: https://www.youtube.com/watch?v=ehkYyVuWMYI&feature=youtu.be
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.
Cristina Feliu, Tel: + 34 91 566 25 24 / + 34608 249 244 email@example.com
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