MasterCard launched MasterPass last year and it has been growing steadily throughout the world as an accepted digital wallet. Countries such as South Africa and Singapore just launched MasterPass this year and it’s catching on fast in the Asian region as a convenient way of payment.
MasterPass acts as a digital wallet to securely store consumers’ credit card data, address and other important info in the cloud. Other branded credit cards can be added to it. This makes the checkout process simpler for purchases with participating retailers. Consumers can use their smartphone to pay for something over the counter by waving it like a credit card.
The plus point is that consumers do not need to key in their credit card details and shipping addresses whenever they make a purchase with their computer, tablet or smartphone as all the information is already stored with MasterPass.
Consumers just need to register once and key in all their relevant information. They can then make their purchases conveniently with participating retailers that display the MasterPass logo. It’s just a simple matter of clicking on the Buy With MasterPass logo, login with verification and pay. That’s it!
Here’s a short video on it :
PayPal’s One Touch is not far behind. Click here to read about it.
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