MasterCard has made three global announcements regarding its growth and initiatives in the mobile market. In addition to releasing the MasterCard Mobile Payments Study in partnership with Prime Research, MasterCard announced the launch of MasterPass, an in-app payment system and its acquisition of C-SAM, a mobile wallet service.
MasterCard announced MasterPass which enables consumers to make secure, simple purchases with a mobile app. Forbes Digital Commerce, Fat Zebra, MLB Advanced Media, NoQ, Starbucks Australia and Shaw Theatres Singapore are among the first app providers that will power their in-app purchasing capabilities with MasterPass.
Apps with MasterPass embedded in them allow consumers to complete a purchase on the connected device without leaving the app environment. The optimized checkout process creates a seamless shopping experience, supported by the highest levels of security and cryptology.
MasterPass in-app payments will be made available to developers and merchants beginning in Q2 of this year. The service requires integration similar to the process for online merchants – already successfully implemented at more than 30,000 MasterPass merchants in Australia, Canada, Italy, the United Kingdom and the United States.
“We’re excited to begin offering MasterPass to our customers as an innovative digital payment solution. This fully aligns with our philosophy to make in-app commerce as easy and efficient as possible,” said Robert Tibbs, chairman & CEO, Forbes Digital Commerce.
“MasterPass in-app payments is the latest offering from MasterCard to address the specific needs of the digital ecosystem. We’re creating great experiences for consumers across all channels and all devices, and enabling merchants to reach new consumers in ways not possible in the pre-digital world,” said Ed McLaughlin (pictured), chief emerging payments officer at MasterCard.
In an effort to speed the development and deployment of mobile wallets and payment solutions like MasterPass, MasterCard has also acquired C-SAM. This announcement builds upon a global strategic partnership developed between the two companies in December 2012, as well as a minority investment by MasterCard.
The C-SAM platform supports customer-specific offers, loyalty incentives, banking, bill-pay options and non-financial secure transactions.
“The acquisition of C-SAM is a significant milestone in our company’s history. While we have enjoyed a strong, longstanding relationship with MasterCard, the team is excited to be formally joining such an innovative and industry-leading organization to deliver end-to-end device-based solutions for service providers around the globe,” said Felix Marx, chief executive officer, C-SAM.