PURCHASE, N.Y. & LAS VEGAS--(BUSINESS WIRE)--
Mastercard today announced agreements with Microsoft, Google and Samsung to bring online payments capabilities to U.S.-based users of their digital wallets. Starting early next year, Mastercard cardholders that use Microsoft Wallet, Android Pay or Samsung Pay will be able to shop online at the hundreds of thousands of merchants around the world where Masterpass is accepted.
Announced earlier this year, the enhanced Masterpass solution uniquely empowers banks and other partners to deliver a branded and customized all-digital payment solution. With Masterpass, consumers are able to make fast, simple and secure digital payments – across devices and channels – anywhere they want to shop: online, in-app and in-store using contactless. To speed up and simplify the online checkout process, consumers’ credit, debit and prepaid card information, along with shipping addresses, are all securely stored in one place. Consumers then complete a purchase with as a little as one click or touch on their favorite connected device.
The speed and simplicity of online checkout with Masterpass will now be extended to the millions of consumers who currently use Microsoft Wallet, Android Pay or Samsung Pay. Consumers using those wallets will be able to use their same secure tokenized credentials and device authentication methods to complete online transactions at any merchant site that accepts Masterpass. The optimized checkout process creates a seamless shopping experience, protected by multi-layers of security.
“We’re excited to bring Masterpass to Microsoft Wallet users,” said Eric Lockard, Corporate Vice President at Microsoft. “Masterpass provides an additional payment option for our customers who look to the Microsoft Wallet to conveniently checkout at their favorite online shopping sites.”
“With this partnership, Android Pay and Masterpass will deliver a seamless purchase experience at thousands of merchants that support Masterpass,” said Pali Bhat, Global Head of Payments Products for Google. “We’re excited to extend the reach of Android Pay by giving online shoppers even more ways to use Android Pay across the web.”
“We are thrilled to be working with Mastercard to bring online payments to the masses and make the online shopping experience as convenient and seamless as possible,” said Thomas Ko, VP and Global GM, Samsung Pay, Mobile Communications at Samsung Electronics. “Through our partnership, our users will be able to simply and securely make payments across their devices and enjoy a variety of benefits all through Samsung Pay.”
The integration of Masterpass with digital wallets delivers benefits for the entire payments ecosystem including consumers, banks and merchants. Consumers retain choice in their use of wallets and digital payments services, while gaining access to hundreds of thousands of Masterpass merchants for a secure and simplified online checkout experience. For the hundreds of banks who already participate in these digital wallets, they will now be able to offer expanded acceptance via Masterpass to their consumers. Merchants, who can easily integrate Masterpass into their websites and mobile apps via the Masterpass API, now have an opportunity to reach the millions of consumers currently using Microsoft Wallet, Android Pay or Samsung Pay – without additional development work.
“The integration of Masterpass with multiple digital wallets demonstrates that Mastercard is committed to scaling the digital commerce opportunity in a way that promotes interoperability,” said Jordan McKee, Senior Analyst at 451 Research. “This is an important step in the continued evolution of Masterpass that serves to expand its value to merchants, issuers and cardholders alike.”
Masterpass is currently available in 33 markets, with planned expansion to 35 by the end of 2016. Masterpass online acceptance for consumers using Microsoft Wallet, Android Pay or Samsung Pay will begin to rollout in early 2017.
“Mastercard is working to ensure that every one of our accounts is as digital as the people using them,” said Garry Lyons, Chief Innovation Officer at Mastercard. “Enabling our cardholders to use digital wallets to shop online via Masterpass is the latest example of our work – alongside our banks, merchants and digital partners – to deliver rich, innovative, compelling and secure ways to pay and get paid across all channels and devices, redefining commerce globally.”
About Mastercard
Mastercard (NYSE:MA), www.mastercard.com, is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. Mastercard products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MastercardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.
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