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MasterCard presents new digital payment service

Global payments and technology firm MasterCard has rolled out its latest digital payment offering, MasterPass, to enhance and simplify the physical and digital shopping experience for users.

MasterCard chief emerging payments officer Ed McLaughlin said the MasterPass brings together all payments options, from traditional plastic cards to digital wallets, and enables consumers to make a payment from anywhere.

The newly introduced digital payment system is part of PayPass Wallet Services, which was announced in spring 2012.

It will be available through financial institutions in Australia and Canada by the end of next month, and in the US and the UK by latespring and summer of this year, respectively.

The company is also planning to launch the service in other markets globally such as Belgium, Brazil, China, France, Italy, Netherlands, Singapore, Spain and Sweden, in 2013.

The MasterPass services also include allowing merchants to accept electronic payments regardless of consumers’ location; enabling banks, merchants and partners to offer their own wallets; and value added services to enrich the shopping experience before, during and after checkout.

MasterCard is a global payments processing network provider that connects consumers, financial institutions, merchants, governments and businesses in over 210 countries and territories.