Credit/Debit Cards, Electronic Payments, Payment technology

MasterCard introduces MasterPass digital wallet in Spain

Mobile WalletMasterCard announced on Wednesday that its MasterPass digital wallet is now available in Spain as a result of agreements reached with financial institutions and retailers across the country.

The U.K. was the first European country to gain access to MasterPass services, followed by Italy and Sweden. Spain is the fourth European country to offer MasterPass services, which are also available in the U.S., Canada, Australia and Brazil. It will be offered in several other markets throughout 2014.

“Consumer habits are changing radically and online purchase volume is growing rapidly, and not just through personal computers or laptops,” MasterCard Spain Manager Ovido Egido said. “The current technology revolution and the proliferation of smartphones and tablets in our country mean that any device is becoming a shopping device, as highlighted by a research published by the Online Business School that stated that mobile commerce already represents 11 percent of online commerce in Spain. In this context, MasterPass becomes a digital payment solution with great potential for merchants, consumers and financial institutions.”

The digital wallet allows consumers to make online payments without the need for re-entering detailed shipping and card information. Payment and shipping information is stored in the wallet, and consumers simply choose their payment option to complete a transaction.

MasterCard said as MasterPass evolves, it will offer users real-time alerts, account balances, purchase history, discounts and offers. The company also said it would support the use of emerging technologies for brick-and-mortar retail purchases.

“We are developing tools based on new technologies such as NFC or QR codes with the aim of breaking the current barriers between online and physical purchases,” Egido said.

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