MasterPass is a digital wallet solution aimed at enabling a fast, secure and easy checkout regardless of consumer location. Payment, credit card and shipping information is stored in a secure cloud platform, and consumers have access to real-time alerts, loyalty programs and account balances through the MasterPass portal.
Several merchants, including Grocery Gateway, Jaunt.ca, WagJag and Porter Airlines, have enabled MasterPass checkout on their websites. MasterCard plans to expand its program to 800 merchants by the end of the year and to 2,800 merchants by the end of next year.
eCommerce in Canada has grown at a faster rate than retail sales. Data from MasterCard Advisor’s SpendingPulse showed total year-over-year eCommerce sales in Canada grew 26.6 percent in the six months leading up to February, compared to 2.9 percent in overall Canadian retail sales over the same time period.
“Canadians are early adopters when it comes to digital payments and embracing new technologies; that’s why Canada is the first market in North America where we’re launching MasterPass,” Jason Davies, the vice president of eCommerce at MasterCard Canada, said. “With eCommerce growing by double digits, more and more Canadians want a secure, seamless and simple payment experience. MasterPass delivers this to consumers no matter if they are shopping on their laptops, tablets or mobile phones.”