MasterCard reveals e-financial initiatives

Mastercard International Inc. has rolled out several initiatives aimed at easing financial institutions into online commerce, including a new tool, two new Web sites and a digital electronic wallet.

The MasterCard eService tool, which was introduced at the BAI Retail Delivery banking conference here late last month, is an electronic "desktop member representative" that provides corporate users with access to operational research tools, as well as the ability to initiate support requests around the clock, according to company officials.

The Complete Chip Solution Website, the second announcement at the show, gives members of the Purchase, N.Y., company's smart-card support program access to various chip offerings, issuer and acquirer tools, and other help options.

Offered in conjunction with Northern Light, a news and information Web site, MasterCard e-Business News is a password-protected site that keeps members abreast of industry developments with research and alerts. The service is accessed through www. northernlights.com/mastercard.

MasterCard also provided details about a chip-activated digital wallet. Partnering with Trintech Group plc., an electronic payment processor and software provider, MasterCard member financial institutions will be able to offer customers a way to conduct online transactions using both a smart-card digital ID and PIN. The chip contains a digital ID number that authenticates the cardholder and then launches the digital wallet.