MasterCard introduces new digital wallet

MasterCard has partnered with mFoundry’s mobile banking solutions to produce an improved, convenient way of shopping.

MasterCard revealed yesterday they are launching a new digital wallet for its customers.

Africans are already said to be considered in this new marketing venture as HumanIPO reported earlier this month MasterCard announced Africa as one of their main points of expansion in 2013, together with Brazil.

The new shopping app, MasterPass, will allow shoppers to pay for their items without approaching a cashier.

The app allows the customer to scan the barcode on their mobile device and obtain a digital receipt which they will then produce as they exit the store.

It has not yet been revealed how much in bank charges consumers will have to pay, however, the app will be available in 2014 with pilot runs beginning in 2013.

“Consumers will now shop and pay in whatever way best fits their needs and lifestyles, from every device they have. MasterPass gives them the ability to make a payment from wherever they are, with one simple experience,” said Ed Olebe, Group Head at MasterPass Services, MasterCard.

MasterPass can also be used by shoppers for online payments with a “one click” way that disregards the hassle of having to input their credit or debit card details each time.

Drew Sievers, mFoundry Chief Executive, said together mFoundry and MasterPass will deliver an “outstanding” customer experience.

Posted in: Mobile

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