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Wallet Database

MasterPass

1st of September 2016

Overview



  • Summary: MasterPass is a cards-based digital wallet for online purchases operating in multiple markets and launched in 2013. MasterPass has been developed by MasterCard

  • Websitehttps://masterpass.com/#en-gb/foreveryone

  • Status: Live

  • Market: Australia (Mar ’13), Canada (Mar ’13), USA, UK, Belgium, Brazil, China, France, Italy (Mar ’14) Netherlands, Singapore, Spain, Sweden, South Africa (Jul ’16) and so on. Masterpass is available in 77 countries

  • Type: Other

  • Ownership: MasterCard (https://www.mastercard.com)

  • Functions: Retail payments only

  • Payment Mode: Cards-based

  • Channel: WEB

  • Roadmap: MasterPass web-based transactions as well as those that occur on native iOS smartphone merchant apps will also be secured with DSRP (Digital Secure Remote Payments); POS via QR code and NFC

User Experience




  • Making a payment: Clicking or tapping the “Buy With MasterPass” button and select MastePass-connected wallets. Then simply sing in and choose the payment card and shipping address that users wish to use from those that they have previously saved. Users can even add a new card or shipping address during checkout. Authenticate with Password. It also supports one-use-time 4 digit verification code, sent via SMS in order to authenticate a transaction (users can turn Mobile Verification on or off at any time)

Payment Flows & Technology



  • Merchant perspective: For merchants, it doesn’t change anything about how they process payments with their gateway and bank. MasterPass stores all of their customers’ information – payments & addresses – in one place. MasterPass Merchant Integration API (Application Programming Interface) is a checkout service API that allows simple and secure checkout from MasterPass digital wallets. Using this API enables merchants to get payment information from the consumer’s digital wallet and be able to process their order on a website

  • Security: One-time-use 4-digit verification code. Powerful multi-tiered security of MasterCard

Business Model



  • Strategy: MasterCard does not charge merchant any fees for purchases through MasterPass. It is not in the wallet business, it is in the business of helping their partners –issuers and merchants alike- enrich their offering so they can deliver a richer, deeper, customized end user experience. MasterPass revenue model is to contribute to its partners’ sales and growth

  • Payee fee: No charge for merchants

  • Payer fee: No charge for consumer 

Performance Data



  • Launch date: Australia (Mar ’13), Canada (Mar ’13)

  • Closed Date: N/A

  • Users: No data yet

  • Retailers / merchants: 2,417 (source: https://shopnow.masterpass.com/en-gb)

  • Transaction volume: No data yet

  • Transaction value: No data yet

  • Other data points: No data yet 

Contact (MobeyForum Members only)



  • Name: N/A

  • Address: N/A

  • Email: N/A

  • Phone: N/A