MasterCard has announced that they will offer its Ewallet, MasterPass, in Brazil.
Ecommerce in Brazil is growing rapidly, and with the increase in demand for online payment options, it is not surprising to see MasterCard entering the market with MasterPass. MasterPass, interestingly, unlike previous attempts, has not linked itself to a certain company or payment service provider to expand its reach.
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MasterCard’s approach in Brazil is to offer its suite of services to banks, retailers, and future partners. The suite includes MasterPass’ checkout service to provide retailers with a fast, safe and secure checkout process. The suite also includes MasterPass connected wallets, allowing banks to create their own branded wallets that will link to the MasterPass network and lastly will offer their value added services that will enrich the shopping experience by creating loyalty programs and other frequent shopper incentives.
“Consumers are embracing a digital lifestyle and, to meet this shift, shopping and payment experiences need to evolve. With MasterPass, all connected devices can become shopping devices, and allow consumers to make purchases from any location,” added Marcelo Tangioni, vice president of products at MasterCard Brazil, on the new offering.
MasterPass allows its users to add multiple payment options, not necessarily only MasterCard cards. The wallet also stores shipping and billing information to make the checkout process as quick and seamless as possible. MasterCard has partnered with multiple service providers across the globe to extend MasterPass’ reach. It even offers in-app payments through the iPAD edition of WIRED.