MasterCard and mFoundry announced on Monday that MasterPass, a virtual wallet service, will soon become available to mFoundry customers, enabling them to make one-click purchases anywhere.
Launched last spring, MasterPass has undergone trial testing with select issuers and merchants. Using the MasterPass APIs to connect its customers with the mobile wallet, mFoundry will begin piloting the new service this year and will extend the service to its banks early next year.
“Consumers will now shop and pay in whatever way best fits their needs and lifestyles, from every device they have,” Ed Olebe, the group head of MasterPass Services at MasterCard, said. “MasterPass gives them the ability to make a payment from wherever they are, with one simple experience. Integrating with mFoundry’s solution embeds the power of MasterPass into an industry-leading mobile banking platform and enhances both the payment and banking experience for consumers.”
mFoundry, which is headquartered in California, works with a number of banks around the world, including Bank of America, PNC Bank and more than one-third of the top 50 financial institutions in America.
“Together, mFoundry and MasterPass deliver an outstanding customer experience by integrating mobile banking and mobile payments into one, seamless solution,” mFoundry CEO Drew Sievers said. “By bringing together both, financial institutions can transform their mobile banking experience and achieve the broader goal of turning mobile into their most valuable channel.”