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MasterCard Mobile Technology Moving Miles Ahead

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Two short years ago, in May 2010, MasterCard announced that they would release Open Application Programming Interfaces, known as Open APIs, to independent and third-party software developers across the globe. Opening up what, until that time, had been proprietary payment and data services was what allowed them to become a bigger part of the e-commerce and mobile payment technology wave. Until that time, it wasn`t possible for outside developers to design apps for MasterCard.

At the time, MasterCard identified about twenty different services that it planned to open up to developers, opening the door for software developers to design online games, web sites, virtual wallets, mobile apps, and payroll systems.

What They Said Then

Garry Lyons, a Research and Development executive with MasterCard Worldwide, said in 2010 that the company was eager for the new ideas that outside developers could bring.

“Over the past few years, we have used some of our Open APIs internally to create groundbreaking new iPhone applications,” Lyons said. He said that loosening MasterCard’s proprietary grip on Open APIs would allow international developers to “come up with new ideas that may not have been previously considered or thought possible.”

He went on to say that he expected the new program to solidify MasterCard`s standing as an innovative industry leader and give them an advantage in the competitive and fast-evolving world of the payment industry.

Josh Peirez, MasterCard`s Chief Innovation Officer in 2010, continued the theme, saying that “the ingenuity of software developers around the globe [will] help create the next generation of game-changing payment applications. We feel this will unleash innovation within our industry, especially in the burgeoning areas of e-commerce and mobile payments.”

One of the advances that we`ve seen at MasterCard since that time are increased use of the EMV chip, known as the M/Chip™ in MasterCard parlance. The EMV chip offers card holders who have an EMV card to use features like PayPass wireless payment, SecureCode online shopping security, MoneySend mobile money transactions, rePower prepaid card reloads, and more.

Map to the Future

MasterCard`s plan for the future includes several concrete steps, outlined on their Heart of Commerce blog, which are the following:

  • More EMV transactions – EMV is a primary goal, seen as “the foundation” of future payments, and merchants must be able to accommodate these transactions, as well as customers.
  • Greater focus on security – giving customers more control and security as payments continue to go wireless is paramount, to minimize fraudulent transactions.
  • Consistency – providing a consistent customer experience across the board, no matter where card holders shop, is a goal.

Wireless Tech in the Big Easy

At the beginning of May, MasterCard will participate in the CTIA Wireless show, an event where more than 40,000 tech and mobility enthusiasts and professionals to see and to showcase the newest developments in wireless technology, as well as discuss what opportunities and challenges are presented in the industry. While there, MasterCard will give a presentation called “MasterCard Unveils the Future of Payments” as well as speaking at other events about things like mobile apps, the ecosystem and “green” wallet mobility, and different perspectives on mobile payments.

As always, at we will keep you updated with the latest mobile payment news, from MasterCard and the entire credit card industry.

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