MasterCard has reached a global partnership with Oracle to offer a smooth digital payment experience to the retail and hospitality industries.
At the outset, the collaboration will concentrate on three requirements of restaurants, hotels and retail stores, including in-store experience, operational efficiencies and cross-channel consistency.
As per the agreement, Oracle and MasterCard will work together to develop and scale enhanced in-store payment experiences including Qkr! with Masterpass.
Qkr! with Masterpass has been designed as a mobile app that allows consumers to seamlessly order and pay for goods and services through their smart phone without having to wait in line or for a restaurant server. The proposed integration will make transactions simple, convenient and secure and remove friction for the customer.
Moreover, both companies have decided to provide a fully-integrated digital payment and fraud prevention offering through MasterCard Payment Gateway Services that will be beneficial for retailers’ in-store and online operations.
Further, the integration of Masterpass into Oracle products enables retailers to offer a seamless check-out experience across different channels.
MasterCard senior vice president for merchant development Chris Fendley said: “With close to 80% of consumers using technology at some point along their shopping journey, MasterCard is committed to unlocking omni-channel commerce for every device and delivering convenient experiences to users at-home, in-stores and on-the-go.
“Building on the success of our joint initiatives with Oracle in the UK, we can help retailers and hospitality providers connect with their customers in more engaging ways while enabling them to grow their businesses with scale, speed and security.”