MasterCard Tests Unique Online Payment Solution

What's Next In Payments®
7:36 PM EDT November 8th, 2012

MasterCard Worldwide and ING bank have launched a trial in the Netherlands enabling bank staffers to shop on the Web and then make online payments with a PayPass application stored on a secure element in their NFC phones. The new technology was showcased at CARTES 2012 and the trial, which started in October, will run until March.

The solution being tested in the trial supports two scenarios: first, shopping and paying on a phone where the consumer is able to select merchandise they want to purchase, select their payment method, provide their shipping information and enter their PIN to authenticate the transaction. An EMV-compliant cryptogram is supplied by the phone directly to the merchant’s payment gateway for processing. In the second scenario, the consumer is able to start their shopping on a PC or tablet, and then complete the payment step on their phone using a secure QR code that connects the Mobile PayPass application in the user’s phone securely to the merchant’s online shopping cart.

“As a company leading the global transformation of digital payment technology, we continue to work with innovative partners like ING to develop and test solutions that address and enhance the ways consumers can pay for goods and services – both today and tomorrow,” said Jorn Lambert, Group Head, Emerging Payments, Europe, MasterCard Worldwide. “This trial builds on our recently announced PayPass Wallet Services and our vision of delivering to consumers and merchants a secure, converged payments experience in-store, online or on a mobile device.”

This solution, unique in its kind, is part of MasterCard’s efforts to connect online and offline payments.

Comments
Also by This Author
What's Hot
News
As The Fed Works To Improve B2B Payments, Payments Industry In Position To Help
B2B Payments
Former Aeropostale VP Gets Jail Time For Business Fraud
Alternative Financial Services
Payment Firm Partners With Lender To Power SME Financing
International
Japanese Auto Parts Makers Face $202M Antitrust Fines
View All Articles ››
You May Also Like
Company Spotlight
Different mPOS Strokes for Different mPOS Folks
International
Digital River Offers A Sneak Peak At Mobile eCommerce Trends
Mobile Commerce
Trustwave Buys Cenzic To Beef Up App Testing Capability
News
Trends Of The Week
News
As The Fed Works To Improve B2B Payments, Payments Industry In Position To Help
B2B Payments
Former Aeropostale VP Gets Jail Time For Business Fraud
News
The Fate Of the U.S. Export-Import Bank Uncertain When Congress Returns From Recess
View All Articles ››