On 27th March 2014, payments solutions provider – Global Payments Inc. – announced that it would integrate MasterCard’s Masterpass solution. This service enables users to utilize any enabled device or payment card for an enhanced shopping experience. MasterPass was launched in May, 2012.
“Online sales continue to grow at a significant rate, driving increased competition and access to more consumers. To attract and retain those consumers, merchants need to offer a consistent, simple shopping experience,” stated Jay Rising of Global Payments. “We are excited to offer MasterPass as part of our commitment to our merchants as a partner of choice to provide valuable services for a new era in digital commerce.”
- Shoppers can pay for the things they want with the security they demand, through the simple click of a mouse, tap of a smartphone or touch of a tablet via Masterpass.
- Shoppers’ preferred payment and shipping information is securely stored within the digital service.
- This information is easily accessible when they click on the “Buy with MasterPass” button and log into their accounts.
- This faster, more efficient experience leads to less shopping cart abandonment, increased sales and enhanced consumer loyalty.
“Consumers have an expectation, regardless of whether they are shopping in the physical or digital realm, for a secure and convenient experience. And it’s those merchants who deliver on that expectation who will drive consumer loyalty. We are thrilled to be working with Global Payments to deliver the MasterPass digital service to their merchants and their shoppers,” said MasterCard’s, Michael Cyr. “This simplicity keeps consumers happy, keeps them coming back and helps establish a merchant as a selected destination for commerce.”
Recently, MasterCard announced that it had entered into an agreement to acquire C-SAM, Inc. (“C-SAM”) a leading provider of mobile wallet and on-device software and services. In acquiring C-SAM, MasterCard said it would speed the development and deployment of mobile wallets and payment solutions globally.
C-SAM was co-founded in 1998 by Sam Pitroda (Chairman) and Mehul Desai (Vice Chairman) with Felix Marx operating as its CEO. The company has received a total funding of $2 Mn. C-SAM offers a range of mobile based apps for retailers, financial institutions and mobile network operators that make use of QR Code, NFC, online, coupons, remote and other payment enabling technologies.