MILAN | MasterPass™, MasterCard’s new digital payment platform is debuting in Italy, offering consumers, by the end of the first quarter 2014, an easier, quicker, and more secure way to shop online.
Major Brands Already Enrolled For MasterPass
Mediaworld, Trenitalia and Vodafone are the first major brands that have already enrolled for MasterPass and will shortly be joined by Esselunga. 3,500 more retailers are also active through Banca Sella, the first acquirer bank to offer the MasterPass service to all its online clients.
The Italian Ecommerce Market
With a population of 14 million online buyers, and purchases using mobile devices (smartphones or tablets) up by 255% in 2013 to EUR 510 million, the Italian market is experiencing steady e-Commerce and importantly m-Commerce growth which makes it ripe for an innovation like MasterPass.
With MasterPass, consumers, don’t have to enter their card and shipping details each time they make a purchase from an online retailer, which is particularly important in the growing area of purchases made from smartphones and tablets. Consumers can simply click on the “Buy with MasterPass” button and enter their username and password to complete payment for a purchase. MasterPass optimizes the mobile check out experience making the small screens easier to navigate and offers the same benefits for online purchases made from PCs and tablets too.
MasterPass is a global standard that allows Italian consumers to make electronic payments using any major payment brand in a simple and secure way wherever they are in the world, and for retailers the ability to offer the benefits of this new payment system to international customers.
Ease of use, security and speed in the same high-tech system
MasterPass is also addressing the market demand for a quick, simple, and secure online digital payment experience. As shown by a Doxa survey carried out on behalf of MasterCard in Italy, consumers ask primarily for more ease of use (80%), more speed (66%), more security (66%) and, last but not least, a more rewarding “emotional” experience. In fact, the survey highlights that this new technology rewards the user because it combines ease of use, security and speed in the same high-tech system. In other words, MasterPass is the practical result of a digital payment technology that makes life easier.
BNP Paribas First Italian Bank to Pilot MasterPass
BNP Paribas Group bank BNL is the first Italian bank to pilot with employees and a group of selected clients in the run up to the commercial launch of the MasterPass service for all the bank’s clients early in 2014. In the meantime, this year it has been possible to use MasterPass to make donations to the Telethon charity project.
Other italian issuing and acquiring banks will follow
The importance of MasterPass is confirmed by the fact that other major Italian banks are now working to implement the digital payment platform, including Banca Generali, BPM, Findomestic and Intesa Sanpaolo. Acquirer CartaSi, Deutsche Bank and Setefi have subscribed to the service and will complete the activation to their business clients over the coming months.
MasterCard, www.mastercard.com, is a company that operates in the field of information technology for international payments. MasterCard manages the fastest payment-processing network in the world, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday business activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardNews, @MasterCardIT and join in the discussion on the Cashless Pioneers Blog and subscribe to receive the latest news.