The platform called MasterPass provides a quick, safe and simple online checkout process from any connected device including PC, laptop, tablet and mobile, says MasterCard New Zealand manager Peter Chisnall.
“MasterPass is a crucial step in the evolution from plastic cards to digital wallets,” says Chisnall. “Payment should be facilitated securely and conveniently in the background, that is what we are driving towards."
MasterPass is a crucial step in the evolution from plastic cards to digital wallets.
Chisnall points out New Zealand consumers are financially and technologically savvy. “There is a real appetite in the market for a safe and efficient way to make digital payments.”
Users can conveniently and securely store MasterCard and other branded credit, debit and prepaid card information and address books, removing the need to manually enter payment details that are required by most existing online payment systems.
"With this technology, consumers can safely do their grocery shopping on the bus on the way home from work, or make a last minute gift purchase during their lunch break, without the need to re-enter card and shipping details,” he states.
The technology was launched 12 months ago and is now in 20 countries including the United States, Canada, United Kingdom and Australia.
Matthew Barr, head of market development and innovation for Australasia for MasterCard, says more than 40,000 businesses globally now accept the option to make online payments with MasterPass.
Westpac is the first local bank that has gone live with the technology but MasterCard says it is working with additional partners including ANZ, BNZ and Kiwibank.
Local retailers accepting MasterPass include Webjet, BuyInvite, DC Shoes, Jeanswest, LivingSocial, NZSALE, QuikSilver and Roxy. Retailers looking to implement it include Briscoes, Event Cinemas, Rebel Sport, Living & Giving and Ticketmaster.
“This is the next step in our journey to be the leading digital bank in New Zealand,” says Shane Howell, Westpac NZ chief product officer.
This is the next step in our journey to be the leading digital bank in New Zealand
"Digital devices are giving customers more control over the transactional side of their banking and more ability to self-serve at a time and place that suits them,” says Howell. "MasterPass is an extension of this and we expect it will quickly become very popular with our customers."
Next up:Removing friction from online transactions