KeyBank Expands Client Mobile Payment Options with Masterpass by Mastercard

KeyBank has added Masterpass by Mastercard to its mobile payments capabilities in response to steadily growing client mobile payment use.

“We know our clients want to be able to choose the banking product that best fits their individual need, and mobile payments is no exception,” said Jason Rudman, director of KeyBank Consumer Payments and Digital Banking. “Whether clients prefer to pay via tap, dip or swipe, we want to be our clients’ primary payment provider as they determine how they want to make payments. We are excited to offer Masterpass to our clients.”

KeyBank’s partnership with Mastercard means KeyBank clients will have access to fast, simple and secure digital payments across devices and anywhere they want to shop—online, in app and now in-store.—with Masterpass by Mastercard.

Masterpass simplifies the checkout experience across a wide array of retailers. With Masterpass, clients can check out online or in-app by clicking the Masterpass button and authenticating to complete the transaction. They can make in-store payments simply by tapping at contactless-enabled merchants.

Masterpass stores all payment information, including card details from both Mastercard and other payment networks, shipping information, and payment preferences in one convenient, secure place. It leverages the most advanced methods of payment security available today, including tokenization, which ensures information is protected.

KeyBank clients are making more use of mobile payments than ever before. Year over year, KeyBank has seen double digit growth in client mobile payments. On average, KeyBank clients are signing on and making transactions with their mobile devices three times as frequently as they had done over the past 18 months.

“We’re tapping partnerships across the industry to provide our clients with innovative, safe and secure mobile payments options,” said Matthew D. Lehman, head of KeyBank Online and Mobile Banking. “KeyBank will continue to bring our clients the best mobile payment options as mobile payments innovate and evolve.”

For a list of Masterpass online and in-app accepting merchants visit www.masterpass.com. A list of in-store enabled merchants can be found here. Visit on www.key.com to sign up for Masterpass issued by KeyBank.