Mastercard has announced this week, PayPass Wallet Services, a new global offering for banks, merchants and partners that will make it faster and easier for their customers to make purchases in stores or online by allowing them to securely pay with a simple click of the mouse, touch of the tablet screen or tap of the smartphone.
It will make it available to partners in the third quarter of 2012, initially in the U.S., Canada, U.K. and Australia and, subsequently, will include other countries.
PayPass Wallet Services includes:
PayPass Acceptance Network (PayPass Online and PayPass Contactless) – Provides a globally consistent way to help merchants accept electronic payments across multiple channels whether the purchase is made in a store at the point of sale with Near Field Communication (NFC) technology or online using a computer, tablet or smartphone. PayPass Online also provides consumers with a simple check-out process by eliminating the need to enter detailed shipping and card information with every purchase.
PayPass Wallet – A full suite of digital wallet solutions enabling banks, merchants and partners to white label their own wallets. It makes online shopping safe and easy by allowing consumers to store payment and shipping information in one, convenient and secure place. The wallet is open, which means that consumers can use American Express, Discover, Visa and other branded credit, debit and prepaid cards.
PayPass API – Allows partners to connect their own digital wallets into the PayPass Acceptance Network, leveraging MasterCard’s check-out, fraud detection and authentication services and enabling their customers to make purchases wherever PayPass is accepted – online and in store.