MasterCard Unveils PayPass Wallet
MasterCard Worldwide is joining the fray with a versatile mobile wallet, but its offering has a slightly different twist from that of competitors.
PayPass Wallet Services will enable bank and merchant customers to make purchases in stores or online by paying with a tap of a smartphone, click of a computer mouse or touch of a tablet screen, MasterCard said in a May 7 press release.
On May 9, Ogone Payment Services, a specialist in online payment services, announced it is first European payment services provider to partner with MasterCard to offer PayPass Wallet.
Unlike certain other offerings, including Visa Inc.'s V.Me system, MasterCard's wallet includes a set of developer tools designed to make it easier to connect other wallets into the PayPass Online acceptance network, MasterCard said. That could open the wallet up for use by more third parties, observers say.
"All parties want to gain the pole position on the mobile wallet," Todd Ablowitz, president of Double Diamond Group, tells PaymentsSource. "The card brands are front and center in the fight. This is clearly MasterCard's attempt to get that critical position."
MasterCard said it plans to make PayPass Wallet Services available in the third quarter, initially in the U.S., Canada, United Kingdom and Australia. It intends to expand the service to the point of sale over time and provide such additional value-added services as at-a-glance account information before making a purchase; spending controls and immediate alerts; and delivery of targeted offers, coupons and enhanced loyalty programs.
PayPass Wallet Services includes PayPass Acceptance Network (PayPass Online and PayPass Contactless), PayPass Wallet and the PayPass application program interface.
These services will enable a consistent shopping experience no matter where and how consumers shop and a suite of digital wallet services.
American Airlines and Barnes & Noble will be among the first merchants to incorporate the PayPass Online checkout button on their websites, and American will integrate PayPass Wallet into its mobile application, MasterCard said.
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