Standard Bank the first bank to offer the MasterPass digital service
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Johannesburg, South Africa, 15 July 2014 – South Africans will now benefit from a more seamless, speedy and secure online shopping checkout with the launch of the innovative MasterCard digital service, MasterPass™.
MasterPass enables consumers to make convenient, simple, fast and secure digital payments. Digital wallets accessible through the MasterPass acceptance network allow consumers to store all their MasterCard or other branded credit, debit or cheque card information, and shipping and billing address details securely in one place. This gives them the ability to make secure online payments without the repeated hassle of entering these details each time.
“The world we shop in is constantly evolving and the ways we pay should keep pace. With a single click, tap or touch of the MasterPass button at checkout, consumers can access their preferred digital wallet and authenticate a payment with a secure PIN,” says Mark Hearne, Head of Business Development, MasterCard, South Africa. “South Africans are the first in the Middle East and Africa region to be introduced to MasterPass, which was launched internationally last year.”
Standard Bank is the first local bank to offer a digital wallet powered by MasterPass via the Standard Bank MasterPass app. The free app is available for download from the Apple, Android or BlackBerry app stores. Takealot.com, Flysaa.com (South African Airways) and entertainment ticketing site Plankton.mobi are among the first merchants to accept MasterPass as a payment method at checkout, with additional merchants going live soon. As MasterPass evolves, it will also enable in-app and in-store purchases, based on the shopping experiences a merchant wants to make available to its customers.
Downloading, registering and using the Standard Bank MasterPass app is quick and easy. Consumers simply visit their device’s app store, download the app, register, load their credit, debit or cheque cards and delivery and billing address details and begin shopping. Anyone can use the Standard Bank MasterPass app – even non-Standard Bank cardholders.
MasterPass also accepts selected PIN-based debit cards such as Maestro, enabling millions of South Africans to make secure online purchases using their PIN-based debit cards.
“Standard Bank is excited to be pushing the frontiers of the payments technology landscape, in partnership with MasterCard, and enabling not only South African cardholders but also our merchant partners to provide slicker payment options to the market. In so doing, we hope to further galvanise the rapid rise we have seen in e-commerce in South Africa recently, and create the platform for future growth in the payments industry,” says Chris Sweeney, Group Head of Cards for Standard BankGroup.
The latest MasterCardOnline Shopping Behaviour Study revealed that 90 percent of South African consumers cited the availability of secure payment facilities as critical when shopping online. Concern around the safety of online transactions was the reason 42 percent gave for not shopping online, a 4 percent increase from last year.
By selecting “Buy with MasterPass” as the payment option at checkout, consumers reduce the risk of exposing their personal information over potentially unsafe networks, assuring them of a safe and secure transaction.
For retailers, MasterPass provides a more secure, faster and easier way to checkout their customers.
“Checkout happens with just a few clicks or taps whether at home, in a taxi, at work or at a supermarket, so merchants can look forward to fewer customers abandoning their shopping carts, which according to research affects over 67 percentof online purchases,” Hearne says.
“Soon, any South African bank and their merchant partners can offer MasterPass, which can be branded and personalised, as long as they are equipped with the appropriate payment infrastructure,” he adds. “This means that MasterPass can be tailored for online payments and in-store purchases in a manner that builds brand familiarity, affinity and loyalty.”
South African MasterPass users can shop internationally at the over 40,000online merchants around the world that accept MasterPass, as long as their loaded payment cards comply with international standards. This applies to most South African cheque and credit cards.
“As consumers become more accustomed to online shopping and the benefits of electronic payments, they want simpler and more secure shopping experiences and payment solutions,” says Hearne. “The convergence of technology and digital payments in MasterPass turns any connected device, at any location, into a payment device.”
Launched in 2013, MasterPass is available in 9 countries including the USA, UK, Canada, Australia, New Zealand, Italy, Singapore, China and Poland.
Easy online checkout with MasterPass – A step-by-step guide:
When shopping online, click the “Buy with MasterPass” button to select this payment method on checkout. The first time you use MasterPass on your desktop, laptop or mobile device, select the digital wallet you want to use. MasterPass will remember your selection on that device.
MasterPass generates a QR code that displays on your screen. If you access a mobi-site or mobile app, MasterPass will automatically take you to step four.
Open the MasterPass app on your mobile device and scan the QR code.
Choose the pre-loaded debit, credit or cheque card you want to use for payment from your wallet.
Depending on your bank, enter your Card PIN or 3DSecure code and your security code (CVC or CVV code), when prompted to authorise payment.
When the transaction is successfully processed, you and the merchant receive payment confirmation.
MasterCard (NSYE: 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: and @MasterCardNews join the discussion on the Cashless Pioneers Blog and subscribe for the latest news on the MEA Engagement Bureau.