MASTERCARD has
launched its digital
wallet services –
MasterPass – in South Africa,
the first market in Africa and
the Middle East to receive the
technology.
Digital wallets accessible
through the MasterPass
network allow consumers to
store all their MasterCard or
other branded credit, debit or
cheque card information, and
shipping and billing address
details securely in one place.
This lets them make secure
online payments without the
repeated hassle of entering
these details each time.
SAA is among the first
merchants to accept
MasterPass as a payment
method at check-out.
SA users can shop
internationally at the
more than 40 000 online
merchants around the world
that accept MasterPass,
as long as their loaded
payment cards comply with
international standards. This
applies to most SA cheque
and credit cards.
For retailers, MasterPass
provides a more secure,
faster and easier way to
check out their customers.
“Check-out happens with
just a few clicks or taps
whether at home, in a taxi,
at work or at a supermarket,
so merchants can look
forward to fewer customers
abandoning their shopping
carts, which, according to
research affects over 67% of
online purchases,” says Mark
Hearne, MasterCard SA’s head
of business development.
As MasterPass evolves, it
will also enable in-app and
in-store purchases, based
on the shopping experiences
a merchant wants to make
available to its customers.
Standard Bank is the first
local bank to offer a digital
wallet powered by MasterPass
via the Standard Bank
MasterPass app. The free
app is available for download
from the Apple, Android or
BlackBerry app stores.
“Soon, any South African
bank and their merchant
partners can offer
MasterPass, which can be
branded and personalised,
as long as they are equipped
with the appropriate payment
infrastructure,” he adds.
“This means that MasterPass
can be tailored for online
payments and in-store
purchases in a manner that
builds brand familiarity, affinity
and loyalty.”
Anyone can use the
Standard Bank MasterPass
app – even non-Standard
Bank cardholders. MasterPass
also accepts selected PINbased
debit cards such as
Maestro.
Launched in 2013,
MasterPass is available in
nine other countries – the
US, UK, Canada, Australia,
New Zealand, Italy, Singapore,
China and Poland.
