Global payment technology provider MasterCard announced on Monday (June 2, 2014) the launch of its brand new digital payments platform called MasterPass in Southeast Asia, starting with Singapore.
According to company representatives, MasterPass makes online shopping now even simpler, faster and safer as it "eliminates the need for consumers to enter detailed shipping and card information to complete their online shopping at MasterPass merchant sites."
"Singapore is already an evolved market for digital payments, and we continue to see great potential for e-commerce growth," said the General Manager of MasterCard Singapore, Julienne Loh, leading to her point about the eminent usefulness of MasterPass to merchants and consumers alike.
"Beyond a platform that hosts digital wallets, MasterPass will provide the technology for merchants to offer new and innovative services and features for shoppers," said Loh. "More importantly, its relevance to consumers by enabling seamless payment experiences will go beyond the online shopping world to even point-of-sale payments. With the convergence of technology and digital payments, every device will become a payment device."
MasterPass was first launched in February 2013, and today is available in Australia, Canada, China, Italy, New Zealand, Singapore, the UK and the US. More than 40,000 merchants currently accept payments via MasterPass.
In Singapore, the digital wallet issuers who have gone 'live' with MasterPass include DBS Bank, Maybank and OCBC Bank. CIMB Bank will also be making its MasterPass digital wallet available soon. Among the Singapore merchants currently accepting MasterPass are Luxola, Shaw Theatres, Singapore Airlines, Singapore Airlines KrisShop Online, SISTIC and Zuji. The payment technology providers AsiaPay, eNETS, MC Payment, Red Dot Payment and WireCard have also started making MasterPass payment options available to merchants in the country.