US-based KeyBank has added Masterpass by MasterCard to its mobile payments capabilities as part of a strategy to expand its client mobile payment options.
Now, the bank’s customer will have access to fast, simple and secure digital payments across devices and anywhere they want to shop, including online, in app and in-store.
Using Masterpass, clients can check out online or in-app by clicking the Masterpass button and verifying to complete the transaction. Additionally, the users can make in-store payments by just tapping at contactless-enabled merchants.
Masterpass stores all payment information, including card details from both MasterCard and other payment networks, shipping information, and payment preferences in one convenient, secure place.
In order to secure the cardholders’ information, Masterpass uses advanced methods of payment security, including tokenisation.
KeyBank director of consumer payments and digital banking Jason Rudman said: “We know our clients want to be able to choose the banking product that best fits their individual need, and mobile payments is no exception.
“Whether clients prefer to pay via tap, dip or swipe, we want to be our clients' primary payment provider as they determine how they want to make payments. We are excited to offer Masterpass to our clients."
KeyBank head of online and mobile banking Matthew Lehman said: “We're tapping partnerships across the industry to provide our clients with innovative, safe and secure mobile payments options.
“KeyBank will continue to bring our clients the best mobile payment options as mobile payments innovate and evolve."