WATERLOO | MasterCard announces the launch of MasterPass in France and Russia expanding the MasterPass footprint to seven countries in Europe and 16 countries worldwide. MasterPass is already accepted by over 60,000 online merchants, and more to come in nearby future.
MasterPass is the electronic purse - or digital wallet - powered by MasterCard. MasterPass allows consumers to shop online using their securely digitalised credit or debit card 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 enabled merchant websites and significantly speeds up payment and checkout.
MasterPass live in 16 countries
MasterPass is now live in 16 countries around the world, including the big ecommerce markets like the United States, United Kingdom, Canada, China and Germany. MasterPass has also been launched in Australia, New Zealand, Italy, Spain, Sweden, Poland, Singapore and recently in the United Arabic Emirates. MasterCard now announces the launch of its Digital Wallet in France - ranking 6th of world's largest ecommerce markets - and Russia - with over 140 million people and over 50 million internet-users a potentially huge ecommerce market. Notably, in the UK, already over 20,000 online retailers now accept MasterPass through Worldpay.
By end of January 2015, 9,000 Spanish online merchants will be able to accept MasterPass on their website due to partnerships with the Spanish domestic network EURO 6000 and Popular Payments, one of the leading acquirer specialists in the Spanish market. In their neighbouring country Italy, it is Findomestic, Intesa Sanpaolo and Monte dei Paschi di Siena that will be added to the list of the five MasterPass issuers already active in the country.
MasterPass 'teaming' with Paylib in France
In France, MasterCard will deploy and speed up adoption of MasterPass by teaming with the domestic digital wallet solution Paylib, offering its users access to the global MasterPass acceptance in 2015. Lastminute and PriceMinister-Rakuten become the first online merchants to accept MasterPass in France. LastMinute already accepts MasterPass in the UK and Spain, and Rakuten in the United States.
In Russia, four of Russia’s leading payment service providers – Payture, Yandex.Money, Wallet One and PayOnline – covering more than 30,000 online merchants, have been integrated into the MasterPass platform.
MasterPass Acceptance in The Netherlands and Belgium
This year MasterCard also announced to launch its MasterPass service in the Netherlands and Belgium. International Card Services, one of the leading card issuers in the Netherlands, was announced as one the first MasterPass issuers. On the merchant side, MasterCard revealed that the Payment Service Providers Adyen, Ingenico Payment Services (previously known as Ogone), Buckaroo and Docdata Payments are to process MasterPass payments on behalf of their online merchants. Now it seems the introduction will take a little bit longer. MasterCard is working hard with all key Dutch and Belgian stakeholders to launch its digital wallet service in 2015.
Smartlink for further consumer adoption across Europe
To further accelerate the expansion of MasterPass in Europe, MasterCard has also granted Smartlink SA a reseller license to host and offer a white label version of the MasterPass wallet to its customers. Smartlink SA operates a Wallet Platform that allows European financial institutions and merchants to build their individual personalized applications. Smartlink will introduce MasterPass to MasterCard issuers across Europe, with Switzerland and France being the first markets.
MasterPass for Merchants
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. MasterPass transactions use the same processing rails used for MasterCard card transactions.
So from a processing point of view there seems to be minimum impact, however, that is slightly different when it comes to the technical implementation of MasterPass within the merchant webshop. To create the best MasterPass checkout experience, it is up to ecommerce platforms, shopping cart platforms and Payment Service Providers servicing online merchants to make it as easy as possible for merchants to place the 'Buy with MasterPass'-button early in the checkout process.
Across all regions and online markets, MasterCard is working closely with all key players both on the merchant side and cardholder side to enrol the MasterPass service and create the best buyer experience while safeguarding secure transactions for both sides.
Sourced from Press Release by MasterCard, December 10th, 2014