Payment technology

MasterCard’s MasterPass goes live in Singapore

MasterpassMasterCard announced on Monday the introduction of its MasterPass digital wallet in Singapore, which will allow the country’s consumers to store payment card information, address books and shipping information for future purchases.

“Singapore is already an evolved market for digital payments, and we continue to see great potential for e-commerce growth,” Julienne Loh, the general manager of MasterCard Singapore, said. “Consumers here have embraced a highly digital lifestyle, and will enjoy even greater convenience, accessibility and safety with the availability of MasterPass in Singapore. Beyond a platform that hosts digital wallets, MasterPass will also provide the technology for merchants to offer new and innovative services and features for shoppers. More importantly, its relevance to consumers by enabling seamless payment experiences will go beyond the online shopping world to even point-of-sale payments. With the convergence of technology and digital payments, every device will become a payment device.”

Originally launched in February 2013, Singapore is the eighth location to offer the service; other locations where MasterPass is currently available include the U.S., U.K., Canada, Australia, Italy, China and New Zealand. The wallet technology allows banks, merchants and other affiliates to offer their own branded wallets.

Singaporean banks that currently offer the MasterPass service include DBS Bank, Maybank and OCBC Bank, with CIMB Bank expected to unveil its wallet in the near future. Payments via MasterPass are accepted at retailers like Luxola, Shaw Theatres, Singapore Airlines, Singapore Airlines KrisShop Online, SISTIC and Zuji.

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