BELGIUM | MasterCard and Buy Way have teamed up to enable Belgian online and mobile shoppers to use MasterPass upon checkout. MasterPass provides a simplified checkout as there is no need for shoppers to enter sensitive card or shipping details when paying for goods or services online.
Buy Way MasterPass partnership
Buy Way is one of the leading Belgian companies providing financial products and services to consumers and is one of the bigger partner for large Belgian retailers. They provide instant credit lines at the Point-of-Sale and issue MasterCard branded credit cards and prepaid cards for consumer spending. Having access to over 585.000 customers, Buy Way seems like a perfect partner for MasterCard to get consumer attention for and adoption of its MasterPass solution.
Buy Way will offer its consumers the ability to create a MasterPass wallet through their Buy Way home banking application. They are then able to benefit from a simplified checkout process when buying through the MasterPass checkout button on merchant websites or apps.
Shoppers that are not client of Buy Way can still create a Buy Way MasterPass wallet through MasterCard's MasterPass website (choosing Belgium as country) or through merchant websites accepting MasterPass including AS Adventure, De Persgroep, New Pharma, Fleurop, Farmaline, and Connections Webshop.
First MasterPass Partner in Belgium
Buy Way is very happy to be the first partner in Belgium to offer the MasterPass functionality to its customers: “We are convinced the digital wallet will increase the comfort of our customers and help them in any purchase or payment online. It’s the very first time consumers are provided with their entire portfolio digitalised which enables them to consolidate all their payment information and cards in one place.”
MasterPass Digital Wallet
The MasterPass wallet basically acts as a digital version of our physical wallet and allows consumers to store credit and debit cards and shipping information securely online. Only the consumer is able to access its digital wallet by using its credentials or via other forms of authentication.
The MasterPass wallet prevents shoppers from having to (re)enter card details (card cumber, expiry date, CVC security code and shipping information) every time they purchase something online. MasterPass has been developed to speed up payment checkouts and - as a result - lower shopping cart abandonment. The MasterPass wallet is open, which means that in addition to MasterCard cards, consumers can use and store other branded credit, debit and prepaid cards.
When shopping online at a MasterPass accepting merchants, shoppers select the goods, use the ‘Buy with MasterPass’ checkout button on the merchants’ websites, login to their wallet, verify their preferred card and shipping address and confirm payment. The merchant receives instant payment confirmation and shipping information for delivery. After the registration has been done consumers will be able to enjoy the checkout shortcut every time with just a click, tap or touch for purchases online via computer, smartphone or tablet.
Future of Shopping
The launch of the MasterPass platform confirms an ongoing trend where every connected device becomes a medium for payments: the computer, the tablet, the smartphone but also the home television or game console. Consumers are however faced with a very wide range of apps and payment cards, turning a payment into a complex process.
“The Future of Shopping is happening now with the world going digital. We’re in the midst of a transformation as people are moving from an offline to a connected world at any time”, says Valerie Nowak, country manager MasterCard Belux. “This new digital platform puts an end to the constant fidgeting with your wallet and integrates all cards and bonuses in one place”.