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News: New Merchants for MasterPass - Credit-Land.com

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 to a seat on an airplane heading to Paris.

New MasterPass merchants include Blue Nile, Broadway.com, Chegg, Fareportal, CheapO Air, Market America|shop.com, Neiman Marcus, Office Depot and Rue La La.

"MasterPass will allow our customers the ability to complete purchases quickly, both online and via any mobile device they choose." said John Koryl, President, Neiman Marcus Stores and Online.

MasterPass is accepted in 16 countries including Canada, France, the U.K, Australia, New Zealand, Russia and China.

The lowdown on MasterPass

Online and mobile payments are a hot topic with consumers, and a way for credit card companies and merchants to increase revenues. MasterPass allows users to pay online with a credit card that they have enrolled into the program using a computer or smartphone after they download the app.

"Consumers like shopping but paying for things online can be challenging," said Michael Cyr, Group Executive, North America Market Development, MasterCard. "MasterPass helps turn every online payment experience into an express checkout lane."

Once they choose to pay with MasterPass, the digital wallet makes the payment using their enrolled card, and it creates a stateless algorithm which means that passwords are not saved in your device or computer, so they can't be shared or intercepted by hackers.

The system also provides the retailer with detailed shipping information, which the user has already programmed into the system.

"Consumers like shopping but paying for things online can be challenging," said Michael Cyr, Group Executive, North America Market Development, MasterCard. "MasterPass helps turn every online payment experience into an express checkout lane."

To get a MasterPass Account people can sign up at the website, using participating credit, debit, or prepaid cards. MasterCard is one of the cards accepted but people can also add in their Diner's Club, Maestro, American Express, Discover, and Visa cards, as well.

Individuals who already have a Citi Wallet can access MasterPass through that system. (Citi is a Credit-Land.com advertising partner).

tags : Mastercard Payment Technologies

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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.