MasterCard Simplifies Shopping with Launch of PayPass Wallet Services
Platform and Services Enable Merchants, Banks and Partners to Offer the Next Generation of Digital Payments
JB Hi-Fi, American Airlines, Commonwealth Bank & Westpac Among Initial Partners
AUCKLAND – May 8, 2012 – –MasterCard (NYSE:MA) today announced PayPass Wallet Services, a new global offering for banks, merchants and partners will make it faster and easier for their customers to make purchases in stores or online by allowing them to securely pay with a simple click of the mouse, touch of the tablet screen or tap of the smartphone.
PayPass Wallet Services delivers three distinct components -- PayPass Acceptance Network (PayPass Online and PayPass Contactless), PayPass Wallet and PayPass API. These services enable a consistent shopping experience no matter where and how consumers shop, as well as a suite of digital wallet services, and developer tools to make it easier to connect other wallets into the PayPass Online acceptance network.
JB Hi-Fi and American Airlines will be among the first merchant partners to incorporate the PayPass Online checkout button on their websites, and American will integrate PayPass Wallet into its mobile application.
“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, MasterCard. “We realise 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.”
PayPass Wallet Services include:
MasterCard will make PayPass Wallet Services available to partners in the third quarter of 2012, initially in Australia, the U.S., Canada and U.K. and, subsequently, will include other countries. PayPass Wallet Services will be expanded to the point of sale over time to create an end-to-end shopping experience for consumers providing additional value-added services such as: at-a-glance account information before making a purchase; spending controls and alerts received in real time; and delivery of targeted offers, coupons and enhanced loyalty programs.
“As Australia’s largest leading technology and entertainment retailer we’re obsessed about a great customer experience and the payments piece is an important part of this experience,” said Richard Murray, CFO, JB Hi-Fi.“The future of retailing is about a harmonious experience both in-store and online, and with the PayPass Wallet Services we feel we’ll be able to provide innovative payment solutions to our customers to deliver on this.”
“At American Airlines, we're passionate about giving our customers more flexibility and functionality on their mobile devices,” said Richard Elieson, managing director, Interactive Marketing at American Airlines. “By integrating PayPass into our mobile app, payment transactions become fast and easy and provide the security you would expect from a brand like MasterCard.”
Leading merchant, financial institutions and technology partners that are working with MasterCard to support the launch of PayPass Wallet Services include:
At 10:30 pm AEST (8:30 a.m. ET) Tuesday, May 8, MasterCard will host a conference call for the investment community with Ed McLaughlin, MasterCard’s chief emerging payments officer, to discuss this announcement. The dial-in information for this call is 866-202-4683 (within the U.S.) and 617-213-8846 (outside the U.S.) and the passcode is 26280608. A replay of the call will be available for one week thereafter. The replay can be accessed by dialing 888-286-8010 (within the U.S.) and 617-801-6888 (outside the U.S.) and using passcode 50876454.
The live call and the replay, along with supporting materials, can also be accessed through the Investor Relations section of the company’s website at www.mastercard.com.
About MasterCard Worldwide
MasterCard (NYSE: MA), www.mastercard.com, is a global payments and technology company. It operates the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardNews, join the discussion on the Cashless Conversations Blog and subscribe for the latest news.
About American Airlines
American Airlines, American Eagle and the AmericanConnection® carrier serve 260 airports in more than 50 countries and territories with, on average, more than 3,500 daily flights. The combined network fleet numbers more than 900 aircraft. American's award-winning website, AA.com®, provides users with easy access to check and book fares, plus personalised news, information and travel offers. American Airlines is a founding member of the oneworld® alliance, which brings together some of the best and biggest names in the airline business, enabling them to offer their customers more services and benefits than any airline can provide on its own. Together, its members and members-elect serve more than 900 destinations with more than 9,000 daily flights to 150 countries and territories. American Airlines, Inc. and American Eagle Airlines, Inc. are subsidiaries of AMR Corporation. AmericanAirlines, American Eagle, AmericanConnection, AA.com, and AAdvantage are trademarks of American Airlines, Inc. AMR Corporation common stock trades under the symbol “AAMRQ” on the OTCQB marketplace, operated by OTC Markets Group.
Statements in this press release which are not historical facts, including statements about MasterCard’s plans, strategies, beliefs and expectations, are forward-looking and subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements speak only as of the date they are made. Accordingly, except for the company’s ongoing obligations under the U.S. federal securities laws, the company does not intend to update or otherwise revise the forward-looking information to reflect actual results of operations, changes in financial condition, changes in estimates, expectations or assumptions, changes in general economic or industry conditions or other circumstances arising and/or existing since the preparation of this press release or to reflect the occurrence of any unanticipated events. Such forward-looking statements include, without limitation:
Actual results may differ materially from such forward-looking statements for a number of reasons, including those set forth in the company’s filings with the Securities and Exchange Commission (SEC), including the company’s Annual Report on Form 10-K for the year ended December 31, 2011, the company’s Quarterly Reports on Form 10-Q and Current Reports on Form 8-K that have been filed with the SEC during 2012, as well as reasons including difficulties, delays or the inability of the company to achieve its strategic initiatives set forth above. Factors other than those listed above could also cause the company’s results to differ materially from expected results.