February 25, 2013
MasterCard MasterPass facilitates digital payments to 700,000 merchants
Digital payments are the way forward, especially for those who have tasted freedom from card and paper payments. MasterCard has introduced MasterPass, which promises the way forward for the company’s PayPass Wallet service. Announced at the Mobile World Congress in Barcelona enables easy transactions via NFC, QR codes, tags or mobile devices, to make purchases. This will mean complete independence from card usage, for so much as to even read your card number for an online purchase. Beginning this spring, US citizens can access the MasterPass facility. However, security may be a matter to be addressed for some, unfamiliar with digital payments.
The company’s chief payment office, Ed McLaughlin said, “As you move into a world beyond cash, you move beyond plastic. Not necessarily without it, but beyond. It’s about the new capabilities digital gives you. It’s not a replacement for something that works awfully well.” It enables you, for instance, to scan QR codes on the product you want to pick up and head directly to the payment page for the same. Both, physical and virtual stores may bring this into light. And we’re eagerly looking forward.