The pressure to quickly add payments innovation is sparking
Purchase, N.Y.-based Mastercard on Wednesday launched Mastercard Engage, a new zone within its website displaying the company’s full set of digital payment tools, with details about vendors and descriptions of payment solutions in development, laid out in sections so merchants, issuers and IoT manufacturers may each quickly locate resources and find partners.
“In our rapidly evolving open ecosystem, payment solutions are coming from many directions—merchants, issuers and developers—and we want to help accelerate and scale by broadening information about available resources,” said Kiki Del Valle, senior vice president, Commerce for Every Device at Mastercard.
Mastercard Engage builds on a digital vendor directory the company launched online earlier this year that received strong interest from payments industry providers, and Mastercard wanted to expand it to include the full product scope, Del Valle said.
The expanded directory provides a snapshot with options to get deeper information or contacts on Mastercard’s tokenization engine MDES, Masterpass, Mastercard Send, Qkr and mPOS providers, with status reports on latest developments.
So far, issuers dominate the list of payment projects with 60 examples. The section for IoT manufacturers has just two projects—FitPay’s recent integration with Garmin and an outline of Giesecke & Devrient’s upcoming project for connected devices. The merchant section of the site is still under construction, Del Valle said.
“We’re going to begin providing details about mobile payment solutions for merchants, and as we add details about merchant solutions for real-time push payments, tokenization, we expect to see a pipeline of ready partners emerge within Mastercard Engage,” Del Valle said.
