MUNICH and FRANKFURT AM MAIN, Germany, July 15, 2015 /PRNewswire/ --
MasterCard and PAY.ON have joined forces to enhance the MasterPass digital wallet solution by making MasterPass immediately available to more than 110 payment service providers (PSPs) via PAY.ON's white label global payment gateway. This advanced digital payment technology is available to more than 56,000 web shops worldwide that route payments through PAY.ON's partners. "MasterPass offers merchants - on the web, via in-app payments on mobile devices, and, in the future, in stores - a user-friendly solution that simplifies payment for customers by bundling together multiple payment and customer loyalty cards, and minimizing shopping cart abandonment," said David Klemm, Head of Acceptance Development Germany at MasterCard.
Wolfgang Berner, Senior Vice President Product at PAY.ON, said: "We are pleased to further build upon our close partnership with MasterCard. With MasterPass, merchants and shoppers have a multifunctional payment method that allows for centralized and secure use of all available online payment methods. This sets a new standard for digital wallets, or eWallets."
MasterPass simplifies payment processes
When shoppers have to repeatedly enter account details and address information, it leads to higher rates of shopping cart abandonment. The continuing trend toward shopping on mobile devices therefore requires innovative, customer and merchant-friendly payment solutions. With MasterPass, MasterCard is focused on the consumer desire for a fast, secure and simple payment option. MasterPass combines several technologies for the first time, creating a digital wallet that stores payment and shipping information in a highly secure data center at the issuing bank, and then automatically transmits cardholder information to the merchant during the payment process. Payment is therefore reduced to a few clicks, and due to the connection with the bank's internal systems, is quicker, easier to use, and more secure. Unlike some competing products, MasterPass is not a niche solution, but rather aims to make digital wallet payments ubiquitous for users. Merchants who implement MasterPass have a significant opportunity to improve customer retention.
PAY.ON's COPYandPAY offers immediate integration of MasterPass in an active, fully set up widget-based payment page
PAY.ON and MasterPass offer the latest payment technology and follow the same principle; ultimate simplicity and efficiency for end users. MasterPass is available via PAY.ON's COPYandPAY, which allows merchants to quickly enable payment processing within their online shop by incorporating a few lines of code. The fully set-up, immediately active payment page includes nearly 100 payment methods and comprehensive fraud prevention tools.
Wolfgang Berner, Senior Vice President Product at PAY.ON, concluded: "COPYandPAY's widget-based payment page requires one single, unified API to connect to PSPs globally. It is fully PCI-compliant and links to more than 300 acquirers and alternative payment methods worldwide. Immediate integration of MasterPass into COPYandPAY reinforces the suitability of our widget-based payment page for PSPs and their merchants looking for the perfect payment set-up".
With the fastest payment processing network in the world, MasterCard connects consumers, banks, merchants, governments and companies in more than 210 countries and territories. MasterCard products and services make daily business transactions simpler, more secure and more efficient for all stakeholders. This applies to purchases and travel as well as corporate management and financial administration.
PAY.ON delivers white label global payment gateway solutions to payment service providers, ISOs, acquirers, ISVs, and VARs, enabling them to fully outsource payment transaction processing or integrate a gateway-to-gateway solution. The core payment gateway provides cross-border payment processing, PCI-compliant merchant boarding, and access to more than 300 domestic and international acquirers and alternative payment methods. Modular solutions are configured to specific business cases, with additional fraud prevention tools, monitoring and reporting, and business services. PAY.ON enables payment providers to rapidly increase international revenues, reduce costs and risk, and accelerate market expansion.
Headquartered in Munich, PAY.ON has subsidiaries and representation in New York, Hong Kong, Salzburg, Manila, London, and Sydney.
For more information, visit http://www.payon.com.
Thorsten Klein, MasterCard
Tel: +49-(0)163 / 480-88-33
Jan Böhler, WBCO
Tel: +49-(0)69 / 13-38-80-41
SOURCE PAY.ON AG