MasterCard Delivers New Online Shopping Experience with Digital Payments Platform MasterPass

Online shopping in Singapore is now even simpler with the launch of MasterPass. MasterPass eliminates the need for consumers to enter detailed shipping and card information to complete their online shopping at MasterPass merchant sites. Consumers can securely store MasterCard and other branded credit, debit and prepaid card information address books and more. This simplifies the process of completing a transaction from any connected device, particularly those with smaller screens.

As consumers in Singapore move to a more digital lifestyle and demand new shopping experiences, MasterCard is continuing to lead the transition to digital payments and deliver solutions that are better, safer and faster. Shoppers in Singapore will be the first in Southeast Asia to experience the offering which promises a simplified payment experience while protecting the user’s card and personal details. By selecting “Buy With MasterPass” as the checkout option, customers reduce the risk of exposing their personal information over potentially unsafe networks and can look forward to more privacy as their details are not shared directly with merchants.

“Singapore is already an evolved market for digital payments, and we continue to see great potential for e-commerce growth. Consumers here have embraced a highly digital lifestyle, and will enjoy even greater convenience, accessibility and safety with the availability of MasterPass in Singapore. Beyond a platform that hosts digital wallets, MasterPass will also provide the technology for merchants to offer new and innovative services and features for shoppers. More importantly, its relevance to consumers by enabling seamless payment experiences will go beyond the online shopping world to even point-of-sale payments. With the convergence of technology and digital payments, every device will become a payment device ,” says Ms Julienne Loh, general manager, MasterCard Singapore.

MasterPass launched in February 2013, and in addition to Singapore, it is currently available in the US, UK, Canada, Australia, New Zealand, Italy and China. Wallet issuers in Singapore “live” with MasterPass include DBS Bank, Maybank and OCBC Bank in Singapore, with CIMB Bank expected to roll out their wallet to the public soon. MasterPass-connected wallets enable banks, merchants and other partners to offer their own branded wallets that extend and enhance their own consumer relationships. MasterPass is accepted at online merchants in Singapore, including Luxola, Shaw Theatres, Singapore Airlines, Singapore Airlines KrisShop Online, SISTIC and Zuji.

Payment technology providers AsiaPay, eNETS, MC Payment, Red Dot Payment and WireCard have also begun to avail MasterPass to their merchants. Today, over 40,000 merchants around the world accept the option to make online payments with MasterPass.

MasterPass will evolve to support the use of emerging technologies – NFC, QR codes and tags – for in-store purchases, based on the shopping experiences a merchant wants to make available to its customers. Consumers shopping at MasterPass merchants in future will also have access to additional value-added services including real-time alerts, account balances, purchase history, loyalty programs as well as offers and experiences.

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