Guiding consumers since 2009

MasterPass: The future of shopping

By Danielle van Wyk

Mastercard’s ‘Masterpass’ enables the user to shop from their mobile device, securely and speeds up the checkout process. It also does wonders in aiding you to manage your transactions.

The response to a safer and more secure shopping experience, “MasterCard is not in the wallet business, we’re in the business of helping our partners, issuers and merchants alike, enrich their offerings so they can deliver a richer, deeper, customized end user experience. As a company, we’re making investments to drive this convergence and push the technology forward,” stated Mastercard.

It also “enables wallet development, MasterPass allows our partners to avoid creating a wallet from scratch. Using MasterPass also avoids having to build an acceptance network for each wallet solution,” added Mastercard.

MasterPass is equally beneficial to merchants. “There is a great value proposition for merchants to accept MasterPass. It provides merchants with a faster, easier way to check out their customers. Additionally, it provides a way to increase sales without significantly changing the way merchants currently process payments,” Mastercard highlighted.

Security is key

“Consumer MasterPass accounts are protected by multiple layers of security, including a CVC check, address verification and text messages to a user’s mobile phone whenever a change is made to the account. In addition, users can add an optional enhanced security feature of a one– time use security code delivered by text message at each purchase,” Mastercard said.

The tech further has a strong authentication process when registering for a digital wallet within the Acceptance Network.

“This is to prevent anyone but the cardholder from registering for one of these digital wallets. In addition, when transactions happen, fraud scoring takes place as this is now an industry standard. MasterCard works with bank partners’ Fraud Prevention programs as well,” said Mastercard.

Masterpass now boasts with a network of more than 40 000 merchants, globally.

“They know merchandising, marketing and loyalty efforts only pay off when shoppers convert to buyers. Building online revenues means attracting the right consumers and reducing checkout friction. MasterPass has proven that it provides the security, speed and ease to help consumers complete their transactions,” said Mastercard.

Recent Articles

Featured Personal loan or business loan? The best way to finance your business

When starting your own business, you may have to rely on external funding. Perhaps you qualify for a personal loan, but would it be better to take out a business loan instead? We got in touch with a specialist to find out whether it’s best to take out a business loan or a personal loan to assist you with your ongoing business or start-up.

What to do when you’ve been denied a home loan

After months of scanning property sites and attending showhouse after showhouse, you’ve finally found what you’ve been looking for. But your dream of owning a home comes crumbling down when you receive the news that you’ve been denied a home loan. So, what now?

Best travel cards offered by top South African banks

Planning a trip abroad involves a lot of administration. You need to consider travelling arrangements, reasonable accommodation, and a daily itinerary. But have you considered how you’re going to pay your bills once you arrive? Besides considering bank costs, you also need to consider exchange rates.

Best ways to save your money short-term

For many, it seems close to impossible to save when spending on holiday getaways, Christmas gifts, while also trying to ensure there’s money left to survive January. Justmoney takes a look at the best ways you can save during the short term.


Takealot January Big Sale

Price: Available on request
When: Until 31 January 2020
Where: Online

Annique Restore Package Special

Price: From R600
When: Until 31 January 2020
Where: Centurion

Ster-Kinekor Senior Citizens Discount

Price: Available on request
When: Daily
Where: Nationwide