MasterCard says PayPass will allow customers to securely pay with a simple click of the mouse, touch of a tablet screen or tap of the smartphone. The mobile devices bit is the one of interest to Bango followers, particularly phones.
The 'mobile wallet', using a mobile phone to make in-store payments, has long been an area of interest to Bango, more so now as mobile devices increasingly become a central point of purchase. Last year Bango CEO and co-founder, Ray Anderson, blogged that the company was already working with PayPal and in a position to benefit from mobile wallets should they become more popular. Today MasterCard has launched PayPass.
In another Cambridge link, games developer Jagex is involved as a merchant partner – making it easier for Runescape players to process in-game purchases – alongside companies such as American Airlines and Barnes and Noble.
Bango is one of several technology partners to work on PayPass Wallet Services, which has three sub-offerings. The PayPass Acceptance Network helps merchants take electronic payments across multiple channels including at the point of sale using Near Field Communication (NFC) technology or online using a computer, tablet or smartphone.
PayPass Wallet enables banks, merchants and partners to white label their own wallets while PayPass API allows partners to connect their own digital wallets into the PayPass Acceptance Network, leveraging MasterCard's check-out, fraud detection and authentication services as well as enabling their customers to make purchases wherever PayPass is accepted.
"Consumers are looking to pay for goods when, how and where they choose. Merchants want flexibility to easily accept digital payments so they can convert more browsers to buyers both online and in store," said Ed McLaughlin, chief emerging payments officer at MasterCard.
"We realize that when it comes to payments, no single wallet will rule them all. PayPass Wallet Services simplifies the shopping experience while providing flexibility and choice to merchants, banks and consumers."
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