MasterPass

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Summary: MasterPass is a cards-based digital wallet for online purchases operating in multiple markets and launched in 2013. MasterPass has been developed by MasterCard
Website: https://masterpass.com/#en-gb/foreveryone
Status: Live
Market: Australia (Mar ’13), Canada (Mar ’13), USA, UK, Belgium, Brazil, China, France, Italy (Mar ’14) Netherlands, Singapore, Spain, Sweden, South Africa (Jul ’16) and so on. Masterpass is available in 77 countries
Type: Other
Ownership: MasterCard (https://www.mastercard.com)
Functions: Retail payments only
Payment Mode: Cards-based
Channel: WEB
Roadmap: MasterPass web-based transactions as well as those that occur on native iOS smartphone merchant apps will also be secured with DSRP (Digital Secure Remote Payments); POS via QR code and NFC [/otw_shortcode_content_toggle]

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Registration & set up: MasterPass works on modern web and mobile browsers including Chrome, Firefox, Safari, and Internet Explorer 11+. Tablet and mobile devices running either iOS 6+ or Android are also supported. It is possible to sing up from MasterPass home page as well as while shopping online by selecting “Buy with MasterPass” button at checkout, where it is accepted. Users may receive an email from the bank or financial institution that issued their wallet with a secure URL and temporary password to complete the wallet registration. User can add credit, debit or reloadable prepaid cards from MasterCard, Maestro, American Express, Diner’s Club, Discover, and Visa

Making a payment: Clicking or tapping the “Buy With MasterPass” button and select MastePass-connected wallets. Then simply sing in and choose the payment card and shipping address that users wish to use from those that they have previously saved. Users can even add a new card or shipping address during checkout. Authenticate with Password. It also supports one-use-time 4 digit verification code, sent via SMS in order to authenticate a transaction (users can turn Mobile Verification on or off at any time)
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Merchant perspective: For merchants, it doesn’t change anything about how they process payments with their gateway and bank. MasterPass stores all of their customers’ information – payments & addresses – in one place. MasterPass Merchant Integration API (Application Programming Interface) is a checkout service API that allows simple and secure checkout from MasterPass digital wallets. Using this API enables merchants to get payment information from the consumer’s digital wallet and be able to process their order on a website
Security: One-time-use 4-digit verification code. Powerful multi-tiered security of MasterCard [/otw_shortcode_content_toggle]

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Strategy: MasterCard does not charge merchant any fees for purchases through MasterPass. It is not in the wallet business, it is in the business of helping their partners –issuers and merchants alike- enrich their offering so they can deliver a richer, deeper, customized end user experience. MasterPass revenue model is to contribute to its partners’ sales and growth
Payee fee: No charge for merchants
Payer fee: No charge for consumer [/otw_shortcode_content_toggle]

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Links:
http://www.businessinsider.com/mastercard-expands-digital-payment-service-masterpass-2016-7?IR=T
http://www.programmableweb.com/api/mastercard-masterpass-merchant-integration/libraries https://newsroom.mastercard.com/wp-content/uploads/2014/07/MasterPass-QA-July-2014.pdf https://masterpass.com/hub/#/support?country=UK&language=en
Media:

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