As a result of the partnership, MasterPass is now available to more than 110 payment service providers using PAY.ON’s white label global payment gateway. Because of this partnership, MasterPass will also be available for more than 56,000 Web shops worldwide that will route their payments through the PSP partners of PAY.ON.
“MasterPass offers merchants — on the Web, via in-app payments on mobile devices and, in the future, in stores — a user-friendly solution that simplifies payment for customers by bundling together multiple payment and customer loyalty cards and minimizing shopping cart abandonment,” David Klemm, head of acceptance development Germany at MasterCard, said in a news release.
MasterPass’ mantra is that it simplifies that payment process by eliminating the friction that is caused when shoppers have to continually enter payment data. Instead, MasterPass’s one-click payment enables shoppers to transact quicker and is said to reduce cart abandonment.
PAY.ON offers a variety of payments solutions, one of which is to enable SPs, ISOs, acquirers, ISVs and VARs to outsource payment processing to a gateway-to-gateway solution. It also helps expand global payments coverage, which is one of the benefits it can bring to MasterCard’s MasterPass. MasterCard’s overall goal with MasterPass is to create a digital payment solution that securely stores the payment and shipping information that’s automatically provided to the merchant during the transaction process.
Wolfgang Berner, senior vice president of product at PAY.ON, remarked: “COPYandPAY’s widget-based payment page requires one single, unified API to connect to PSPs globally. It is fully PCI-compliant and links to more than 300 acquirers and alternative payment methods worldwide. Immediate integration of MasterPass into COPYandPAY reinforces the suitability of our widget-based payment page for PSPs and their merchants looking for the perfect payment setup.”
MasterPass’ technology enables a connection with the bank’s internal system — creating a quicker, more secure system. MasterPass aims to provide a “ubiquitous” payment system for users.
“We are pleased to further build upon our close partnership with MasterCard. With MasterPass, merchants and shoppers have a multifunctional payment method that allows for centralized and secure use of all available online payment methods. This sets a new standard for digital wallets, or eWallets,” Berner said.