SPH Buzz, a convenience store operator in Singapore, in collaboration with Mastercard has rolled out hybrid store concept in Singapore.
SPH Buzz has integrated Mastercard’s mobile commerce platform, known as Vending featuring Masterpass, in its unattended machines that allows customers to order and pay for goods via their smart devices using Masterpass.
Vending powered by Masterpass is a secure payment system developed by the Singapore R&D team in Mastercard Labs, the global innovation and R&D division of Mastercard.
Mastercard said that Masterpass accelerates the checkout process without requiring consumers to enter their financial and shipping information.
Mastercard Global Products and Solutions chief commercial officer for commerce platform Betty DeVita said: “In retail, both speed and convenience are extremely important to consumers. Even at vending machines, many sales are lost as a result of consumers not having loose cash or because of coin jams in the machine.
“With the launch of Vending powered by Masterpass at SPH Buzz, we are removing friction, significantly improving the current experience, and reducing wait time.”