MasterCard launches ‘industry first’ for mobile payments

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MasterCard claims Masterpass is the first payment system that can be used online, via a third party app like PayPal or in-store

MasterCard has launched an update to its Masterpass payment system, which it claims is an ‘important industry first’ for mobile transactions.

The update allows users to make payments with Masterpass online via a computer, through any participating smartphone app such as PayPal, and now in-store using their handset as they would with a contactless debit or credit card. MasterCard claims it is the only service that allows payments using all three methods.

Users with any participating bank simply enter their account details into Masterpass to enable payments. It uses the most advanced security methods to protect customers from fraud, according to MasterCard.

The app launched in February 2013 and is currently available in 32 markets. The update launches in the US this month, with UK availability opening at some point next year. Mobile News has contacted MasterCard for more information.

MasterCard president of North America Craig Vosburg said: “With billions of cardholders across the globe, we are working with our issuers to ensure that we’re delivering a digital foundation that supports consumer expectations for a familiar and secure payment experience both now and into the future.

“The expansion of Masterpass represents both the next phase of our digital infrastructure and also an important evolution of our business. We’re packaging the intelligence and insights generated by digital payment solutions to power a wide range of merchant experiences and address consumer needs.”

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