MasterCard Debuts MasterPass - Card Issuers News


ADVERTISING DISCLOSURE: is an independent, advertising-supported web site. receives compensation from most credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » News » Card Issuers » MasterCard Debuts MasterPass

MasterCard Debuts MasterPass

MasterCard Debuts MasterPass
The content is accurate at the time of publication and is subject to change.

Consumers will be able to make purchases with a click, a tap or a touch no matter where they are, using MasterPass, MasterCard’s new digital payment platform. Introduced this week at the Mobile World Congress in Barcelona, MasterPass is the evolution of PayPass Wallet, the digital payment system that MasterCard introduced last spring.

PayPass Wallet had three different components:

  • PayPass Acceptance Network, which let consumers make purchases online or in stores using NFC technology
  • PayPass Wallet which allowed people to store payment information on their phones and
  • PayPass API which let partners connect their digital wallet services to the PayPass Acceptance Network

PayPass becomes MasterPass

Now MasterPass will take over those components and add even more functionality to MasterCard’s digital and mobile offerings. The program is expected to be available worldwide by the end of 2013. Consumers will be able to sign up for MasterPass through financial institutions in Australia and Canada by the end of March, in the United States later this spring, and in the United Kingdom sometime this summer. Other markets on tap for 2013 include Belgium, Brazil, China, France, Italy, Netherlands, Singapore, Spain and Sweden.

MasterPass services will include:

  • Checkout services – this gives retailers a way to accept electronic payments from an in-store register or from a store aisle. MasterPass supports payments made with NFC, QR codes, tags or mobile devices, letting stores check customers out anywhere they are. That means freedom from the typical register line-up scenario most of us are used to.
  • Connected wallets – this lets banks, stores and other partners offer consumers their own mobile wallets so they can store card information in a secure, open cloud that accommodates more than just MasterCards. Customers can also add other brands of debit cards, credit cards, and store cards to the wallets.
  • Value added services – things like account balances, alerts, loyalty point-tracking and other services to enrich customer experience will be included in MasterPass functionality, allowing merchants to offer even more to their customers and take full advantage of the possibilities that digital and mobile payments can deliver.

Visa gets in on mobile and digital action

Not to be left behind in the mobile and digital payment game, last week Visa introduced the Visa Ready Partner Program, which will let mobile device makers and technology companies partner with Visa to grow their contactless payments capabilities.

Visa Ready Partner will help financial institutions and merchants adopt Visa-approved mobile and digital payment methods and let them accept electronic payments worldwide via Visa-branded cards. The company hopes to make mobile payments easy for customers and merchants, wherever they are.

Through this program, Visa is developing mobile payment solutions that will be compatible not only with traditional magnetic-stripe cards, but with EMV chips and contactless card payments.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
Add to Favorites:

Related News:

Paying Has Never Been So Easy
Paying Has Never Been So Easy

Posted: September 19, 2013

Technology has changed the way we communicate, but it’s also had a huge influence on how Americans shop and pay bills. Whether you are buying a dress, purchasing a book or picking up the check at a restaurant, technology has made paying… Continue reading

New Merchants for MasterPass
New Merchants for MasterPass

Posted: February 03, 2015

MasterCard is expanding its virtual reach by signing up more merchants for MasterPass, a digital wallet for credit cards. With the latest round of partners, consumers will be able to use MasterPass to buy everything from a Broadway ticket… Continue reading

Enhanced Security for International Travelers
Enhanced Security for International Travelers

Posted: February 28, 2014

MasterCard and Syniverse, a telecommunications company, are piloting a new program using smartphone technology to provide cardholders with enhanced security and easier approvals for customers using their credit card overseas. Continue reading

Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
Earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, and more up to the quarterly maximum, each time you activate.
For Excellent, Good Credit
INTRO OFFER: Discover will match ALL the Miles you've earned at the end of your first year, automatically. For example, if you earn 30,000 Miles, you get 60,000 Miles. That's $600 towards travel!
For Excellent, Good Credit
Earn unlimited 1.5% cash back on every purchase, every day
For Average, Fair, Limited Credit
You've successfully subscribed!

Please specify the following:All these fields are optional

Your Credit History
Themes you are interested in:

By providing this information you help us make our news letters more useful and informative. Thank you!