Major Nordic Banks Support Launch of MasterPass in Sweden

MasterCard's picture
Printer-friendly versionPrinter-friendly versionPDF versionPDF version

Nordea, SEB and Swedbank will roll-out digital wallets enabled by new MasterCard digital platform

To tweet this news, please copy and paste  http://mstr.cd/1ce6L9F onto your twitter handle with hashtag #MasterPass

Stockholm, 19 December 2013 – Nordea, SEB and Swedbank – three of the leading banks in the Nordics, are now confirmed to launch digital wallets enabled by MasterPass™, the digital platform from MasterCard®. Built on MasterPass technology and functionality, the banks will offer their own digital wallets to their customers, giving them a true global solution for easy shopping online on any connected device.

“We are very proud to announce that Nordea, SEB and Swedbank will introduce their own digital wallets using the global MasterPass platform. In partnership with those banks, a safe, simple and smart digital wallet, that can store all card brands, and which is accepted globally, will soon be available for millions of Swedish consumers across all connected devices, while delivering the security and benefits consumers already enjoy today from a genuine MasterCard transaction,” says Mats Taraldsson, head of Business Development MasterCard Nordic and Baltic Region.

MasterPass simplifies online purchases made from connected devices including PCs, tablets and smartphones. MasterPass eliminates the need for consumers to enter detailed shipping and card information to complete their online purchases at MasterPass merchant sites that have the “Buy with MasterPass ™” button on their check out page as MasterPass automatically inserts name, address and card information at every purchase. Consumers can securely store MasterCard and other branded credit, debit and prepaid card information and more in their MasterPass digital wallet. In Sweden, MasterPass will be even more consumer friendly as users will login to their digital wallet using Mobile BankID for safe and fast shopping online.

Besides Nordea, SEB and Swedbank confirmed as issuers of the MasterPass digital wallet, the first Swedish payment service provider Paynova, one of Sweden’s leading payment service providers on the internet, is also confirmed for deployment of the “Buy with MasterPass” button. This means all e-merchants using Paynova’s services can easily offer the MasterPass checkout button on their websites. This simplification of the purchasing process, which also includes all the guarantees of a card payment, should enable e-merchants to increase significantly their check-out conversion rate and boost the development of e-commerce and m-commerce.

This solution, which is initially being deployed for e-commerce, will at a second stage enable merchants to offer their customers to pay in store with MasterPass and encourage the convergence of payment experiences using new technologies such as NFC and QR code.

MasterPass is today available to consumers in Australia, Canada, United States and the United Kingdom. MasterPass is currently expanding to other markets and will be made available to both merchant and issuing partners in Belgium, Brazil, China, France, Italy, Israel, Netherlands, Singapore and Spain.

MasterPass will be launched in in Sweden during 2014.

Quotes from partners:

”There is a demand among our customers and merchants for payment solutions with high security combined with simplicity and user friendliness. Through our partnership with MasterCard we are integrating our digital wallet with Mobile BankID, which makes it a lot easier for our customers” says Lars Boström, Head of Cards at Nordea.

“SEB has a strong focus on making the day-to-day finance easier for our customers. They expect smart payment solutions. With the digital wallet from MasterCard based on their digital platform MasterPass, we will eventually be able to offer a fast, safe and global solution for shopping online, with ie a smartphone. A solution that in the future will also work in the physical store”, says Nils Hilbard, Head of Strategy at SEB Kort.

“Swedbank is working intensively to always offer our customers easier, more secure and faster ways to pay, not least when they shop online. MasterPass is an important component for us in our further focus on mobile payment solutions for both merchants and consumers, online and mobile”, says Erik Cyrus, Head of Group Cards, Swedbank.

”We are very proud that MasterCard has selected Paynova as the first payment service provider in the Nordics to launch MasterPass. With this, Paynova takes yet another step to increase customer loyalty as well as for faster and easier purchases online”, says Daniel Ekberger, CEO at Paynova.

The full MasterPass suite of services includes:

  • MasterPass checkout services – provides retailers with a convenient way to accept electronic payments online and in the future, MasterPass will enable retailers to accept electronic payments in-store from any MasterPass connected wallet. When in-store, MasterPass will work with NFC and QR codes.
  • MasterPass connected wallets – providing banks, retailers and other partners with their own branded MasterPass wallet or ability to connect their proprietary wallet to the MasterPass acceptance network.
  • MasterPass value added services – enriching the shopping experience before, during and after checkout, integrating services such as loyalty programs, as well as Priceless offers and experiences.

More information on MasterPass:

https://masterpass.com/

For more information, please contact:
Frida Almgren, Communications Manager, MasterCard Nordics and Baltics

Tel: +46 70-317 35 45

Mail: frida_almgren@mastercard.com


About MasterCard
MasterCard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardNews, join the discussion on the Cashless Pioneers Blog and subscribe for the latest news on the Engagement Bureau.

News Source : Major Nordic Banks Support Launch of MasterPass in Sweden

Copy this html code to your website/blog to embed this press release.