MasterPass is launching in South Africa, which is a first for the Middle East and Africa regions.
Digital wallets accessible through the MasterPass acceptance network allow consumers to store all their MasterCard or other branded credit, debit or cheque card information, and shipping and billing address details securely in one place. This gives them the ability to make secure online payments without the repeated hassle of entering these details each time.
“The world we shop in is constantly evolving and the ways we pay should keep pace. With a single click, tap or touch of the MasterPass button at checkout, consumers can access their preferred digital wallet and authenticate a payment with a secure PIN,” says Mark Hearne, Head of Business Development, MasterCard, South Africa. “South Africans are the first in the Middle East and Africa region to be introduced to MasterPass, which was launched internationally last year.”
Standard Bank is the first local bank to offer a digital wallet powered by MasterPass via the Standard Bank MasterPassapp. Takealot.com, Flysaa.com(South African Airways) and entertainment ticketing site Plankton.mobi are among the first merchants to accept MasterPass as a payment method at checkout, with additional merchants going live soon. As MasterPass evolves, it will also enable in-app and in-store purchases, based on the shopping experiences a merchant wants to make available to its customers.
MasterPass also accepts selected PIN-based debit cards such as Maestro, enabling millions of South Africans to make secure online purchases using their PIN-based debit cards.
“Standard Bank is excited to be pushing the frontiers of the payments technology landscape, in partnership with MasterCard, and enabling not only South African cardholders but also our merchant partners to provide slicker payment options to the market. In so doing, we hope to further galvanise the rapid rise we have seen in e-commerce in South Africa recently, and create the platform for future growth in the payments industry,” says Chris Sweeney, Group Head of Cards for Standard BankGroup.
The latest MasterCardOnline Shopping Behaviour Study revealed that 90 percent of South African consumers cited the availability of secure payment facilities as critical when shopping online. Concern around the safety of online transactions was the reason 42 percent gave for not shopping online, a 4 percent increase from last year.
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