MasterCard introduces MasterPass payments platform in Singapore

MasterCard has debuted its latest payments platform MasterPass in Southeast Asia in Singapore to simplify the online shopping experience.

MasterCard has debuted its latest payments platform MasterPass in Southeast Asia in Singapore to simplify the online shopping experience.

The platform helps customers to bypass the requirement of feeding the detailed card information while shopping online by securely storing MasterCard and other branded credit, debit and prepaid card information address books on the platform. Customers’ information will not be shared with the merchants.

MasterCard Singapore general manager Julienne Loh said Singapore is an evolved market for digital payments, and the company continue to see great potential for e-commerce growth.

"Beyond a platform that hosts digital wallets, MasterPass will also provide the technology for merchants to offer new and innovative services and features for shoppers," added Loh.

"More importantly, its relevance to consumers by enabling seamless payment experiences will go beyond the online shopping world to even point-of-sale payments. With the convergence of technology and digital payments, every device will become a payment device."

To use the simplified payment service, the consumers need to select ‘Buy With MasterPass’ option at the check-out on MasterPass merchant sites including Luxola, Shaw Theatres, Singapore Airlines, Singapore Airlines KrisShop Online, SISTIC and Zuji.

DBS Bank, Maybank and OCBC Bank in Singapore have collaborated with the payments company to issue wallet for MasterPass service, while CIMB Bank is soon expected to roll out its wallet.

Launched earlier in February 2013, MasterPass is also available in the US, UK, Canada, Australia, New Zealand, Italy and China.