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MasterCard's PayPass to offer mobile payment services

Posted: , by Alan F.

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MasterCard's PayPass to offer mobile payment services
On the eve of the opening of CTIA 2012, MasterCard announced PayPass, which allows customers to make quick purchases using a smartphone or tablet while out shopping, and to make a one click payment while online. The system will be available in the third quarter and American Airlines mobile app will be among the first using PayPal Wallet. The airline, along with Barnes and Noble, will offer PayPass Online on their website. Eventually PayPal Wallet will expand to point of sale and allow the user to check his/her account before making the payment. Alerts can be preset to go off when a certain preset dollar amount is reached and coupons and loyalty programs can be used to offer discounts to customers. The program will start up in the U.S, Canada, U.K. and Australia before expanding to other countries.

"Consumers are looking to pay for goods when, how and where they choose. Merchants want flexibility to easily accept digital payments so they can convert more browsers to buyers both online and in store. We realize that when it comes to payments, no single wallet will rule them all. PayPass Wallet Services simplifies the shopping experience while providing flexibility and choice to merchants, banks and consumers."-Ed McLaughlin, chief emerging payments officer, MasterCard
Richard Elieson, managing director, Interactive Marketing at American Airlines, was excited about the concept when he said, "At American Airlines, we’re passionate about giving our customers more flexibility and functionality on their mobile devices. By integrating PayPass into our mobile app, payment transactions become fast and easy and provide the security you would expect from a brand like MasterCard." Marc Parrish, vice president of retention and loyalty marketing for Barnes & Noble.com noted that smartphone penetration has exploded in the States and that "the technology that will allow customers to make mobile payments at the point of sale has already begun to make a difference, and Barnes & Noble is proud to be leading retail in this technology shift."

A number of international financial institutions are taking part in the program, including Citibank.
Press Release source: MasterCard via AndroidCentral

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