Payment technology

MasterCard launches MasterPass digital wallet in China, Italy

MasterpassMasterCard announced on Friday the official launch of its MasterPass digital wallet in China and Italy.

In Italy, more than 50 percent of consumers are multi-channel consumers, according to a 2013 Nielsen study. Nearly four million Italians make at least 10 online purchases per year, with 11 percent using smartphones and 10 percent via tablets.

“The technology revolution we’re living in our country—mainly led by the proliferation of smartphones and tablets and by the increasing trend focusing on e-commerce—means that any connected device is becoming a shopping device,” Paolo Battiston, the division president for Italy and Greece at MasterCard, said. “MasterPass is the digital payment solution for online and mobile payments available for merchants, consumers and financial institutions.”

In China, a recent MasterCard study showed close to 100 percent of consumers in the country have made at least one online purchase over the past three months.

LongPass from the China Construction Bank will be the first digital wallet to use the MasterPass platform. Some merchants that use the MasterPass platform include Zuji, Singapore Airlines, J. Crew, Rakuten, Kate Spade, Harvey Norman, JB Hi-Fi, Boots UK, Bass Pro Shops and Beyond the Rack.

“The economy in China is of huge importance to the global market,” Duan Chaoliang, the general manager of China Construction Bank’s credit card center, said. “With increasing levels of consumption, this new digital service will bring more value to key stakeholders. It is our pleasure to work with MasterCard to launch MasterPass in China, to provide our customers a faster, more secure and more convenient payment experience. This is a milestone in our collaborative efforts to bring China’s payments industry into a new phase.”

Launched last February, MasterPass is available in Australia, Canada, the U.S. and the U.K., in addition to Italy and China.

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