South African financial services giant Absa has launched MasterCard’s digital payment platform Masterpass to enable its clients to make online payments via a virtual wallet.
Called Absa MasterPass, the app can be used to make online purchases wherever Masterpass is accepted.
Absa, a wholly owned subsidiary of Barclays Africa Group, said that its customers will also soon be able to do in-store shopping using Absa Masterpass.
Introduced in 2013, MasterPass securely stores consumers’ credit, debit or cheque card information, and shipping and billing address details in a secure data center at the issuing bank and sends cardholder information to the merchant during the payment process.
To pay, users just have to open the app and scan the quick response (QR) code on the website, select the card they wish to use, enter their bank PIN number on their own device.
Mastercard launched the digital payment service in South Africa in July 2014. Currently, Masterpass is accepted at more than 270,000 merchants globally including a wide range of South African merchants such as Vodacom, Forever Resorts, Lancet Labs, Lottostar, South African Airways, and Takealot among others.
Willie van Zyl, head of card issuing, Absa Retail and Business Banking, said: “We are seeing a huge change in the way our customers shop and pay for things and the Absa Masterpass App is another step on our mobile banking journey as we respond to the changing needs of our customers. It also gives them access to a smooth shopping experience – from start to finish and in real time. It allows people to conduct the transaction of their choice through the channel of their choice – any time and in any place.”