Neiman Marcus and Office Depot are among seven well-known merchants that have recently signed up to use the MasterPass digital payments system from MasterCard (NYSE: MA).
The system provides a "seamless, safe and secure" online shopping experience for consumers, according to MasterCard. The other merchants are: Blue Nile, Broadway.com, Chegg, Fareportal/CheapO Air, Market America/Shop.com and Rue La La. American Red Cross also has signed up to take donations using MasterPass.
"Customer service is at the heart of every decision we make at Neiman Marcus," said John Koryl, president, Neiman Marcus stores and online. "MasterPass will allow our customers the ability to complete purchases quickly, both online and via any mobile device they choose,"
Reflecting a growing trend in the way retailers use digital payment technology, MasterPass is accepted in 16 countries and by more than 70,000 online retailers. Among those already using the system are FTD, J. Crew, Bass Pro Shops, Newegg, Orvis and Tiger Direct.
By joining MasterPass, consumers can use any enrolled credit card to pay for purchases. This can be anywhere online or in-app while using any device, MasterCard said. It eliminates the time-consuming need to enter detailed payment and shipping information with every purchase.
"Consumers are embracing a digital lifestyle and, to meet this shift, the shopping and payment experiences needed to evolve," said Beth Kitchener, business leader for U.S. Markets communications at MasterCard. "MasterPass is our response to this and to our 1.9 billion cardholders around the world that want a more simplified and secure shopping experience."
Consumers set up a MasterPass account by going to the MasterPass.com website and signing up with a participating bank.
"MasterCard is not in the wallet business, we're in the business of helping our partners—issuers and merchants alike—enrich their offerings so they can deliver a richer, deeper, customized end user experience," Kitchener said. "As a company, we're making investments to drive this convergence and push the technology forward."
MasterPass is open, allowing consumers to use any card, regardless of brand, with the service. It lets consumers check out with a few clicks or taps wherever they are. MasterPass stores all registered credit, debit, prepaid and loyalty cards in one place.
"This new set of retailers is a boost for MasterPass, however many retailers will want to see high customer adoption before investing in new payment methods," said Alistair Combes, director of product development at CMS Payments Intelligence.
"Consumers like shopping but paying for things online can be challenging," said Michael Cyr, group executive, North America market development, MasterCard. "MasterPass helps turn every online payment experience into an express checkout lane."
-See this MasterCard press release
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