MasterCard has announced deals with 16 Australian payment providers to provide MasterPass as a digital payment option to their merchant and enterprise customers.
For online payments, the digital wallet from MasterCard allows users to pay from a list of pre-stored cards and shipping addresses stored in the digital wallet. In the store, merchants supporting MasterPass will be able to accept mobile contactless payments using near field communication (NFC) technology or QR codes.
MasterCard inked contracts with ANZ Bank, Commonwealth Bank, National Australia Bank, eWAY, IP Payments and 11 other payment companies. Major banks missing from the list include Westpac and Suncorp. However, Matt Barr, MasterCard head of market development and innovation for Australasia, said that “many” more payment providers are expected to join in the future.
“Having so many technology partners onboard illustrates the increasing consumer demand for digital wallets,” Barr said in a statement.
“MasterPass technology offers shoppers peace of mind that their personal details are safe, as well as a wider selection of payment options and quicker transaction times, which can ultimately translate into increased customer satisfaction and an uplift in sales.”
IP Payments said the additional payment option is a win for its enterprise customers.
“MasterPass brings to our enterprise customer base a new payment channel for simple consumer transactions, but more importantly a channel that will enhance their cashflow through improved relationships with their end customers,” said IP Payments director, Mark Lewis.
“IP Payments will make this mobile wallet offering available across our range of payment, accounts receivable automation and PCI-complaint products over the coming months.”
MasterCard is not the only company working on digital transactions. Last month, Visa announced that it would release a digital wallet called V.me in Australia in time for the Christmas shopping season.
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