In an important industry milestone, Mastercard unveiled what is calls “the foundation for the future of commerce” with the new Masterpass global digital payment service.
This enhanced solution enables consumers to look no further than their own trusted bank or credit union to make fast, simple and secure digital payments – across devices and channels – anywhere they want to shop be it online, in app and now in-store with contactless.
Mastercard claims it is the first network to deliver an omni-channel, all-digital payment service for consumers, issuers and merchants leveraging the most advanced methods of payment security available today.
Masterpass is currently available at hundreds of thousands of merchants online or in-app including. Consumers will now be able to use Masterpass at the more than 5 million merchant locations in 77 countries that accept contactless payments. Contactless capability will first be available to Android device owners in the US.
Through the bank or issuer you’ve chosen
Masterpass uniquely empowers issuing partners to deliver a bank-branded, all-digital payment solution. More than 80 million accounts will be automatically enabled through issuing partners as the service rolls out globally.
The enhanced digital payment functionality helps issuers differentiate existing products, including mobile banking apps, by integrating digital payment functionality and new services like purchase alerts and paying with points.
The rollout of Masterpass-enabled solutions from issuers in the U.S. begins later this month. Europe and the Middle East/Africa will be the next markets where the converged Masterpass solution will be live by the end of 2016. Additional rollout of the enhanced Masterpass service in North America, Europe, Latin America & the Caribbean, Middle East & Africa and Asia Pacific will continue through 2016 and in to 2017.
Evolving the brand identity
The digitization of commerce and increased connectivity of consumers is driving a digital transformation that will provide seamless payment choices. To reflect a readiness and optimism about this transformation, Mastercard is introducing an evolution of its brand identity – simplified, modernized and optimized for an increasingly digital world. The brand identity starts with a new brand mark, and plays out in a holistic design system that will bring a forward-thinking, sophisticated and inclusive brand expression to every touch point around the world.
“Mastercard is one of those unique brands that is instantly recognizable around the world,” said Raja Rajamannar, chief marketing and communications officer, Mastercard. “To thrive in this new digital world where business moves faster than ever, we want to modernize and elevate the brand in a design that is simple and elegant, yet unquestionably Mastercard.”
The evolved brand identity, including the most comprehensive brand design system ever introduced globally within Mastercard, will be rolled out to all Mastercard products, communications, and experiences, starting with Masterpass later this month, and across Mastercard beginning in the fall.
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