MasterCard Thursday 10 United Kingdom-based payment service providers have agreed to PayPass Online, which increases the number of merchants accepting payments from both online and mobile wallets. MasterCard expects the growing online and mobile market to increase retailers’ revenue 45% by 2014.
From Finextra:
“With an ever increasing number of transactions being made online, merchants need to cater to changing consumer lifestyles and expectations. They need to offer shoppers peace of mind that their personal details are safe, offer a wider choice of payment options and quicker transaction times, which can ultimately translate into increased customer satisfaction and uplift in sales. With PayPass Wallet Services we are again demonstrating our commitment to using our technology and expertise to offer these benefits to consumers, issuers, and merchants whilst offering the state-of -the-art security protection of the MasterCard payment system,” says Marion King, President of the UK and Ireland at MasterCard.
The 10 payment service providers (CQR, CreditCall, DataCash, MoPowered, Optimal Payments, Pensio, Sage Pay, SecureTrading, The Logic Group,and WorldPay), all believe PayPass will provide benefits to both retailers and merchants as highlighted by DataCash President, Ajay Bhalla.
“As a MasterCard Company, DataCash was pleased to be the first Payment Service Provider to add PayPass Online as a payment option for Merchants. At DataCash, our vision is to transform the digital payments experience for everyone everywhere, and PayPass Wallet provides three vital components that achieve this for the modern shopper: it’s secure, saves time at the online checkout and enables convergence of multi-channel payment options, including online, in store and when paying with a smartphone or tablet device.”
MasterCard’s PayPass Wallet Services make it easier for merchants to accept payments from across multiple platforms like online, tablet or mobile. By using this function, merchants can in turn speed up the checkout process and shoppers can safely store personal information on their respective wallets. While wallets have yet to hit mainstream use, adding more participants in the process can only move to increase adoption and improve the merchant and customer transaction experience.
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