SAN FRANCISCO, July 14 , 2016 /PRNewswire/ -- Bank of the West, a leading regional financial services company, announced today its customers will have access to fast, simple and secure digital payments across devices and anywhere they want to shop—online, in-app and now in-store—with Masterpass by Mastercard. The global digital payment service from Mastercard that connects consumers with merchants will be available for Bank of the West customers later this year.
As part of the Bank of the West's continued focus on enhancing its digital offerings for customers, the bank is partnering with Mastercard to provide a new mobile wallet solution for its customers.
From purchasing a train ticket, to splitting the check and paying right at a restaurant table, to buying groceries with the tap of a phone, Masterpass will help simplify the checkout experience across a wide array of retailers. With Masterpass, customers will also be able to check-out of their online or in-app shopping site by clicking the Masterpass button and authenticating to complete the transaction. In-store, customers will simply need to touch the "tap to pay" reader at contactless-enabled merchants to complete a payment transaction.
"We are entering an exciting time for our customers with respect to payment solutions," said Paul Appleton, executive vice president, consumer banking product and payment solutions, Bank of the West. "The forthcoming mobile wallet rollout is an example of our deliberate approach in developing digital payment experiences that will allow our customers to make shopping easier and to make purchases in the way they choose."
Masterpass will store all of the information entered by customers including payment information, card details from Mastercard and other payment networks, shipping information, loyalty program numbers, and payment preferences in one convenient, secure place – giving customers choice to shop across digital devices and channels. The online and mobile Masterpass service will incorporate the most advanced methods of payment security available, including tokenization, which ensures information is protected.
Masterpass is currently available in 32 markets globally, with plans to expand to three more by the end of the year. The Masterpass vision is to support all forms of commerce in order to address the widest range of merchant experiences and consumer needs. A list of Masterpass online and in-app accepting merchants is available at www.masterpass.com and a list of in-store enabled merchants can be found here.
Bank of the West is a regional financial services company chartered in California and headquartered in San Francisco with $77.2 billion in assets as of March 31, 2016. Founded in 1874, Bank of the West provides a wide range of personal, commercial, wealth management and international banking services through more than 600 branches and offices in 23 states and digital channels. Bank of the West is a subsidiary of BNP Paribas, which has a presence in 75 countries with 189,000 employees. Follow us on Twitter: @BankoftheWest.
Deposit and loan products offered by Bank of the West, Member FDIC and Equal Housing Lender. In South Dakota, Bank of the West operates under the name Bank of the West California. Bank of the West Wealth Management offers products and services through Bank of the West and its various affiliates and subsidiaries.