PURCHASE, N.Y. – MasterCard has chosen PSCU to have its credit unions test the credit card company’s new PayPass Wallet, a digital wallet that may be sub-branded by credit unions.
MasterCard introduced the new electronic payment system yesterday, stating it will make it faster and easier for consumers 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 their smart phone.
PayPass Wallet Services delivers three distinct components – PayPass Acceptance Network (PayPass Online and PayPass Contactless), PayPass Wallet and PayPass API. MasterCard said 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.
American Airlines and Barnes & Noble 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.
MasterCard will make PayPass Wallet Services available to partners in the third quarter of 2012, initially in the U.S., Canada, U.K. and Australia. It later will include other countries.
