Going into investor day, Mastercard is ready to talk about its brand’s evolution from card network to digital payments acceptance network, buttressed by the continued growth and acceptance of Masterpass among issuers, acquirers and merchants worldwide.
The highlights of the great digital migration presentation will focus on a few areas: expanded footprint, growing capacity, increasing issuer and merchant support and enhanced functionality.
“Around the globe, we continue to work with our bank and merchant customers to deliver new features and functionality to Masterpass that not only solve for their needs but address the issues facing the ultimate customer — the consumer. In doing so, we’ve developed a platform that’s second-to-none and unique in the market today. The global momentum we’re achieving with banks, merchants and consumers is proof-positive of our efforts to create simple and secure digital payment experiences anywhere consumers want to shop,” said James Anderson, executive vice president of digital payment products at Mastercard, in a press release.
Masterpass is currently available in 33 markets, with plans to expand into 36 by the end of this year. In July, Masterpass formally announced the launch of its omnichannel, all-digital payment service for issuers, merchants and consumers built on the back of Mastercard’s network tokenization to provide security. Masterpass has also expanded the offers it makes possible for its issuing banks, including the ability to construct their own customized payments function within the context of their current mobile offerings. Those functions can include enhancements to their current product suite, including their mobile banking application, or an integration of their current proprietary services, including balance display, purchase alerts and paying with points.
Mastercard will also note the contributions to its global brand — particularly in developing nations — and Masterpass’ increasing merchant acceptance online and in-store in the U.S. and around the world.