MasterCard launches MasterPass: Will this digital wallet fly?

Summary:MasterCard revamped its PayPass digital wallet with MasterPass. It's unclear whether consumers will adopt this digital wallet.

MasterCard on Monday launched MasterPass, the next generation of its PayPass e-commerce wallet.

masterpass

The announcement, made at the Mobile World Congress powwow in Barcelona, comes as MasterCard's PayPass had only 13 percent awareness among U.S. consumers, according to comScore. PayPal had the most awareness followed by Google Wallet.

MasterPass will launch at the end of March in Australia and Canada followed by the U.S. and U.K. MasterCard also said that MasterPass will roll out in Belgium, Brazil, China, France, Italy, Netherlands, Singapore, Spain and Sweden in 2013.

The digital wallet service consists of the following:

  • Checkout services to accept electronic payments from multiple locations. MasterPass will support NFC, QR codes, tags and mobile devices at the point of sale.
  • Connected wallets so banks, merchants and partners can offer their own branded wallets. These wallets will include cards other than MasterCard.
  • "Value added services" to provide information during shopping.

Needless, to say MasterCard has a full roster of merchants and financial institutions supporting MasterPass.

The big question remains whether MasterPass will manage to gain traction among shoppers, who know of digital wallets but aren't exactly clamoring for them.

digitalwallet020413

 

More;

Topics: E-Commerce, Mobility, MWC

About

Larry Dignan is Editor in Chief of ZDNet and SmartPlanet as well as Editorial Director of ZDNet's sister site TechRepublic. He was most recently Executive Editor of News and Blogs at ZDNet. Prior to that he was executive news editor at eWeek and news editor at Baseline. He also served as the East Coast news editor and finance editor at CN... Full Bio

zdnet_core.socialButton.googleLabel Contact Disclosure

Kick off your day with ZDNet's daily email newsletter. It's the freshest tech news and opinion, served hot. Get it.

Related Stories

The best of ZDNet, delivered

You have been successfully signed up. To sign up for more newsletters or to manage your account, visit the Newsletter Subscription Center.
Subscription failed.