MasterCard has launched in Singapore an “even simpler” way for online shopping through MasterPass, which eliminates the need for consumers to enter detailed shipping and card information to complete their transaction.
The company said this simplifies the process of completing a transaction from any connected device, particularly those with smaller screens.
By selecting “Buy With MasterPass” as the checkout option, customers reduce the risk of exposing their personal information over potentially unsafe networks and can look forward to more privacy as their details are not shared directly with merchants.
“Beyond a platform that hosts digital wallets, MasterPass will also provide the technology for merchants to offer new and innovative services and features for shoppers,” said Julienne Loh, general manager of MasterCard Singapore.
Wallet issuers in Singapore that have gone live with MasterPass include DBS Bank, Maybank and OCBC Bank in Singapore, with CIMB Bank expected to roll out their wallet to the public soon. MasterPass-connected wallets enable banks, merchants and other partners to offer their own branded wallets that extend and enhance their own consumer relationships.
MasterPass is accepted at online merchants in Singapore, including Luxola, Shaw Theatres, Singapore Airlines, Singapore Airlines KrisShop Online, SISTIC and Zuji.
Payment technology providers AsiaPay, eNETS, MC Payment, Red Dot Payment and WireCard have also begun to avail MasterPass to their merchants. Today, over 40,000 merchants around the world accept the option to make online payments with MasterPass.
MasterPass will evolve to support the use of emerging technologies – NFC, QR codes and tags – for in-store purchases, based on the shopping experiences a merchant wants to make available to its customers.