MasterCard Launches the Digital Purse

On Monday, MasterCard launched the digital purse, Paypass Wallet, which can be used to pay throughout the world via tablets, smartphones and personal computers. Payments via Near Field Communication (NFC) are also possible.

Wallet is being marketed as an open platform, which can also be used by American Express, Discover, Visa and other cards. The service will initially be available in North-America, Australia and England.

Another advantage of PayPass Online is that users can enter all their details, such as delivery address, so they do not have to enter these details again every time they purchase online.

MasterCard has named a large number of merchant banks and banking partners, including American Airlines, Barnes & Noble and Jagex.

What’s more, a few days ago MasterCard certified a large number of mobile telephones for making mobile payments using its PayPass-service. These are phones from HTC, LG, Nokia and RIM, including the BlackBerry Bold 9900, HTC One X and Nokia Lumia 610, which all have an in-built NFC-chip. These phones are labelled PayPass Ready.

To make a payment, the phone just has to be swiped along a wireless payment terminal, but shops will have to be fitted out with MasterCard PayPass terminals. It can be done anywhere in the world, but currently on a limited scale, for example, at Subway, the sandwich chain store, and at Macy’s department stores.

There have been trials with PayPass in the Netherlands since 2008, at V&D department stores and ABN-AMRO bank, but nothing more.