MasterCard introduced a new digital service to provide "enhanced shopping experiences" to users of any payment card or "enabled device." - Business Travel News

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February 25, 2013 - 02:00 PM ET

MasterCard introduced a new digital service to provide "enhanced shopping experiences" to users of any payment card or "enabled device." New services to be provided by the MasterPass platform include "a consistent way" for merchants to handle checkout when customers use electronic payment in stores or online; the ability for banks, merchants and other partners to offer their own "wallets" that can include secure, cloud-based card information; and other "value-added services to enrich the shopping experience before, during and after checkout," including account balances, alerts and loyalty programs. Evolving from the company's PayPass Wallet Services launched in 2012, MasterPass has attracted as participants more than two dozen financial institutions and several merchants, including American Airlines. MasterPass during this year will become available via financial institutions first in Australia and Canada, then the United States and the United Kingdom, and also in Belgium, Brazil, China, France, Italy, the Netherlands, Singapore, Spain and Sweden. MasterCard also announced that VeriFone Systems, which claims as customers "75 percent of the top 200 largest retailers in the United States," signed a MasterPass deal.

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