As a major payment network, MasterCard acts a key component of the effort to bring about a comprehensive shift in how payment is considered and integrated in our increasingly mobile device tethered lives.
For a company like MasterCard, the trick has always been in the infrastructure. And infrastructure is, by definition, at the bottom of the technology stack. Everything else is built on top of it. To enable all the other aspects of the stack above it, MasterCard had to build a system where privacy, security, provisioning and every other aspect of the analog payments world that needed to be brought to the digital realm.
Mercator Advisory Group expects MasterCard and its network peers will continue to serve as prime drivers of the enablement of mobile payments, as demonstrated in the article. Creating solutions to facilitate micro-transactions via tokenized wearable devices stands one of the next frontiers.
Overview by Joseph Walent, Senior Analyst, Emerging Technologies Advisory Service at Mercator Advisory Group