According to MasterCard, MasterPass enables consumers to make convenient, simple, fast and secure digital payments. Digital wallets accessible through the MasterPass acceptance network allow consumers to store all their MasterCard or other branded credit, debit or cheque card information, and shipping and billing address details securely in one place. This gives them the ability to make secure online payments without the repeated hassle of entering these details each time.
Standard Bank is the first local bank to offer a digital wallet powered by MasterPass via the Standard Bank MasterPass app. The free app is available for download from the Apple, Android or BlackBerry app stores.
Takealot.com, Flysaa.com (South African Airways) and entertainment ticketing site Plankton.mobi are among the first merchants to accept MasterPass as a payment method at checkout, with additional merchants going live soon. As MasterPass evolves, it will also enable in-app and in-store purchases, based on the shopping experiences a merchant wants to make available to its customers.
MasterPass also accepts selected PIN-based debit cards such as Maestro, enabling millions of South Africans to make secure online purchases using their PIN-based debit cards. According to the company, consumers who use different banks may utilise the app; however, financial institutions may or may not charge the consumer for each transaction.
IT News Africa has the pleasure of speaking to Aaron Oliver, Head of Emerging Payments, Middle East and Africa in order to find out more about the MasterPass app.