Posts tagged MasterCard PayPass
A recent statement that caught the AIRTAG teams attention was MasterCard’s announcement last week of a new partnership with ING to offer online payments as part of the PayPass based platform in the Netherlands. PayPass more than a service but a platform, includes an online payment system, branded services and an API giving developers a tool to integrate PayPass into many different systems. MasterCard’s and ING’s PayPass online payments will offer shoppers enhanced security, the ability to apply coupons and vouchers to their purchases and receive digital receipts. According to a new study by AOL and BBDO 40% of purchases from Smartphone devices occur from home, the couch or anywhere else. Now MasterCard will offer those shoppers an even easier way to pay from anywhere. With PayPass online payments, there are two possible Customer Journeys;
Customer Journey #1: Merchandise selected, Payment method selected, Shipping details are entered and Pin is entered (The phone will supply EMV compliant cryptogram to communicate directly with the retailers payment terminal)
Customer Journey # 2: Shopping is started on a tablet, Products selected, Billing information entered, QR Code is sent. The user would then tap their Smartphone on the tablet to make the payment, connecting the PayPass app directly with the merchants shopping cart
This new pilot is part of MasterCard’s initiative to offer “converged payments experiences, in-store, online or a mobile device.” (MasterCard Press Release) With the approach of the holidays consumers now more than ever are mobile shopping and showrooming for convenience and to maximize savings. It’s great to see MasterCard proactively responding to consumer behavior changes by offering easier ways to pay when Mobile Shopping both in-store or anywhere else.
All you have to do is “Tap & Go”…
In the next few months there will be an increase in the number of credit card and telecommunications companies enabling NFC payment technology for various Smartphones. In terms of market readiness for the “Tap & Go” payment feature, Canada is at the top of the list.
It’s no surprise though, because Canada has the right audience for this type of technology as Canadians are among the highest number of Smartphone owners worldwide. There are in addition several signature Canadian brands that have already enabled this type of payment technology.
Canada is seen to be an optimistic market for credit card companies such as MasterCard, as the receptiveness of Canadian’s to this type of technology is well known.
“Over 10% of MasterCard transactions in Canada are contactless, just waiting for smartphone enablement,” Ed McLaughlin, MasterCard’s chief emerging payments officer, said last week at a presentation during the International CTIA Wireless show in New Orleans.
MasterCard has recently certified four blackberry models for the Canadian market including the Blackberry Bold 9900 and 9790 and the Blackberry Curve 9360 and 9380.
Read more about the development of NFC payments in Canada
Read the release of guidelines for NFC payments in Canada
Read more about NFC
“On May, 7 2012 Mastercard announced PayPass Wallet Services, a new global offering for banks, merchants and partners that will make it faster and easier for their customers to make purchases in stores or online by allowing them to securely pay with a simple click of the mouse, touch of the tablet screen or tap of the smartphone,” according to Mastercard’s press release.
The wallet is said to be launched in the third quarter in the United States, United Kingdom, Canada and Australia first, before the PayPass technology is extended elsewhere around the ‘globe’.
The differentiating characteristics of Mastercard’s PayPass from Visa’s V.me wallet is that it enables banks and merchants to customize their own digital wallets, so that Mastercard’s branding is not the primary focus of attention.
Additionally, Mastercard’s contactless and online payments will be launched under one brand whereas Visa is going to offer two brands, V.me wallet and Visa payWave.
Because over spending is a concern for PayPass users, Mastercard’s wallet will offer a variety of pro-consumer services including; account look-up before purchases, spending control and alerts and delivery of targeted offers coupons and loyalty programs.
Read the full press release about the features and benefits of the Mastercard PayPass
Read more about the difference between Visa V.me and the Mastercard PayPass
MasterCard is leading the way for credit card companies that support the PayPass application. Currently, several more Smartphones have been certified for use with the MasterCard PayPass technology. In total 17 Smartphones have been approved for this technological development. Some of the phones have knowingly had the Near Field Communications (NFC) technology such as the LG Viper 4G LTE and the Samsung Galaxy Nexus HSPA+, however new additions to the list of approved Smartphones include; BlackBerry Bold 9900 / 9790 and BlackBerry Curve 9360 / 9380.
“In the near future, millions of phones will ship with NFC technology embedded within them. The new PayPass Ready identifier will help consumers make informed device purchasing decisions by providing a visual mark that indicates devices are certified to make simple, smart and secure payments via the MasterCard PayPass network,” said Mung Ki Woo, group executive, Mobile at MasterCard.
Near field communication’s technology will allow customers to make secure, contactless payments at certified merchants around the world.
Read the full MasterCard press release for all of the details as well as the full list of Smartphones enabled for this technology.
Read more about the benefits of the MasterCard Pay Pass