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Digital Mobile Payments with MasterCard

Posted on the 08 May 2012 by Prepaidplans @prepaidplans

MasterCard will launch its digital wallet later this year, a mobile payment system designed to speed consumer purchases online or via mobile apps.

PayPass Wallet Services — is an attempt to expand it to online stores and mobile phone users. The service will actually make it to Australia in the 3rd of this year.

“Merchants want flexibility to easily accept digital payments so they can convert more browsers to buyers,” says Ed McLaughlin, chief emerging payments officer of MasterCard. “PayPass Wallet Services simplifies the shopping experience.”

Like Amazon’s one-click shopping feature, MasterCard will encourage customers to store their card information in the digital wallet app and avoid having to enter detailed shipping and card information with each purchase. Consumers can use any branded credit, debit and prepaid cards.

Merchants who accept the digital wallet will display a PayPass payment icon on their websites.

MasterCard plans to allow banks, merchants and other partners to use its technology to create their own digital wallets. It will also distribute developer tools to allow other digital wallets to connect to the PayPass acceptance network, allowing their customers to make purchases online or in stores that accept PayPass.

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