MasterCard has announced the deeper support of its virtual mobile wallet for in-app purchases.
One of the major players in the credit card industry, MasterCard, has now announced its intentions to go deeper into the mobile sector by launching the MasterPass online wallet for mobile applications.
Previously available as a web-only offering, MasterPass will now allow users to store all the necessary information online and make purchases with apps as well. But it will also need retailers to support the new MasterPass service, which is expected to catch on eventually. This will basically save users the inconvenience of manually entering credit or debit card details for each mobile apps individually as MasterPass will securely save all the necessary details to use whenever necessary.
MasterCard will reportedly make this new service available to merchants and developers by the first half of 2014. The initial set of retailers to use this updated MasterPass service include Forbes Digital Commerce, Fat Zebra, MLB Advanced Media, NoQ, Starbucks Australia and Shaw Theatres Singapore. It is said that several other retailers and merchants will soon join the mix as MasterPass aims to conquer the rest of the world in the coming months. MasterCard’s entry into the mobile fray doesn’t surprise us as the total revenue generated by mobile apps is expected to reach over $46 Billion by 2016.
The MasterCard team is also available at the MWC event in Barcelona, where it is announcing the acquisition of C-SAM which is a mobile wallet service provider. “In acquiring C-SAM, MasterCard will speed the development and deployment of mobile wallets and payment solutions globally, including the rollout of its MasterPass digital service,” said the company in its official press release.
Via: The Next Web