MasterCard Unveils ‘MasterPass’ Online Wallet System

MasterCardMasterCard has revealed plans to support in-app payments via its virtual online wallet payment system, MasterPass, in response to the growing potential of mobile payments. MasterPass lets users store all their payment, store card, loyalty, shipping and billing address details in one place and pay for goods and services online from retailers that have signed up to support the wallet. Previously it was only browser-based, but MasterCard has announced plans to integrate it into mobile apps — it will be made available to developers and merchants starting in the second quarter of this year. This means that apps with MasterPass embedded in them will enable consumers to complete a purchase without having to leave the app at all. It also eliminates the need to store payment card credentials across various mobile apps — as MasterPass will provide the details needed to facilitate a transaction.

Read the full story at The Next Web.

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