MasterCard has announced MasterPass in-app payments at the Mobile World Congress. The solution will enable consumers to make secure purchases within a mobile app.
MasterPass in-app payments will eliminate the need to store payment card credentials across numerous mobile apps, providing consumers with a fast and simple payment experience. Forbes Digital Commerce, Fat Zebra, MLB Advanced Media, NoQ, Starbucks Australia and Shaw Theatres Singapore are among the first app providers that will power their in-app purchasing capabilities with MasterPass.
Consumers are shopping and paying in whatever way best fits their needs and lifestyles – and from every device they have. They are looking for digital ‘shortcuts’ that provide speed, convenience and a great experience. With MasterPass, this can be a simple tap, click or touch at checkout, at home, on the go, and now, directly within an app.
“We’re excited to begin offering MasterPass to our customers as an innovative digital payment solution. This fully aligns with our philosophy to make in-app commerce as easy and efficient as possible,” said Robert Tibbs, Chairman & CEO, Forbes Digital Commerce.
According to ABI Research, overall revenues from mobile applications, including in-app purchases, will reach USD46bn by 2016, more than five times greater than the $8.5 billion earned in 2011. With the average global smart device user having downloaded 26 apps, consumers are storing payment card and other sensitive information with numerous app providers to set up accounts and make purchases.
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