Global payments solutions company MasterCard is planning to launch its latest digital platform — MasterPass — in India.
Global payments solutions company MasterCard is planning to launch its latest digital platform — MasterPass — in India. A pilot for this project is under way, said Ram Chari, group head & CEO, ElectraCard Services (Integrated Products Solutions of MaserCard), on Wednesday.
MasterPass is a digital platform that “allows consumers to use any payment card or enabled device to go beyond plastic and have a better shopping experience, which is as simple as a click, tap or touch — online, in-store or anywhere”.
With the MasterPass, customers can shop through their mobile device and speed up the checkout process without requiring to enter financial and shipping information at every new merchant site. It is an open platform that accepts MasterCard as well as other branded credit, debit and prepaid cards. It has been launched in select markets around the world.
MasterCard is also running pilots with the government on a range of technology platform to enable financial inclusion and in direct-benefit transfer programmes.
The company is looking at offering integrated processing solutions to customers/issuers by adding debit card and prepaid cards solutions, along with its traditional credit card processing capabilities. A lot of innovation and high-end work around the payments space would be driven by the new technology hub in Pune, Chari said.