WARSAW | MasterCard launches its global digital wallet service MasterPass in Poland. uPaid will be the first issuing partner to power its digital uPaid wallet using the MasterPass platform. eCard, as the first acquirer, will enable merchants in Poland to accept MasterPass payments. MasterPass is already live in several large ecommerce markets including US, Canada, UK, China, Australia, New Zealand, Italy and Singapore.
MasterPass is basically an electronic purse that allows consumers to shop online using pre-registered credit or debit cards and personal shipping address information. MasterPass eliminates the need for consumers to enter detailed shipping and card information to complete their online shopping at MasterPass merchant sites. As an open platform, MasterPass allows consumers to use not only MasterCard, but other branded credit, debit and prepaid cards.
For merchants, MasterPass creates the opportunity to simplify their checkout process and reduce cart abandonment due to current lengthy payment checkout procedures. MasterPass especially enhances the checkout experiences on mobiles and tablets, as the shopper is able to pay with just a few clicks.
uPaid as first Polish MasterPass partner
uPaid will be the first partner to leverage the MasterPass platform to enable its digital uPaid wallet. MasterPass will replace and enhance the MasterCard Mobile platform, which has been present in Poland for three years. uPaid will automatically switch its current users of MasterCard Mobile over to the uPaid wallet. “I am glad that as MasterCard’s partner we are able to be the first to allow our customers access to a new shopping experience at more than 500 Polish merchants as part of MasterPass”, said Marcin Kopyś, CEO at uPaid.
Polish e-commerce market
MasterPass is another step towards the development of the Polish e-commerce market that, according to forecasts, may exceed PLN 30 bn in 2014 (~7.25 bn euro). The m-commerce market has been growing even faster and as many as 16% of Internet users have been shopping with their mobile devices.
Sourced from MasterCard, July 14th, 2014