MasterCard has officially launched its MasterPass digital payment solution in South America, with Brazil becoming the first nation to use the technology to make secure online purchases.
The technology saves consumers time by eliminating the need to re-enter payment and shipping details each time they make an online purchase at partner merchants.
MasterPass has entered the Brazilian e-commerce market at the right time. Demand for accessible online shopping solutions is expected to rise this year, as according to research firm e-bit Consultancy, Brazilian e-commerce sales are expected to increase by a further 20 per cent this year.
‘‘The Brazilian consumer is continuously adopting new technologies that offer speed and convenience. To meet this demand, MasterCard wants to ensure that it offers the best payment experience for consumers regardless if they are making a shopping in the physical or digital world,’’ explained Marcelo Tangioni, VP products of MasterCard Brazil.
A number of large Brazilian e-commerce firms such as CNova group, The Beauty Box and Tray Shopping have already integrated MasterPass payments on their e-commerce sites.
‘‘MasterPass is already available at a significant number of online retailers in Brazil. In fact, our merchant partners represent 30% of the e-commerce segment in the market and we expect our merchant reach to continue to grow,’’ concludes Tangioni.
Although MasterPass has been in operation for a few years, the service is still being released in a number of countries around the world. Last month, MasterCard partnered with financial solutions company Buy Way on the integration and deployment of MasterPass in Belgium.
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