A revolutionary technology launched by MasterCard (NYSE: MA) on Tuesday, October 8, allows shoppers to make retail purchases directly from the pages of their favorite magazines.
MasterCard's "ShopThis!" tool is designed to let readers discover and purchase items from magazines' advertising and editorial pages, without leaving the pages. WIRED, a Condé Nast brand, is the first publication to offer the ShopThis! with MasterPass technology to its readers, starting with the November iOS tablet edition that is available on October 15.
Here's how it works: as consumers explore the pages of WIRED, they can select products available for purchase via ShopThis!-enabled pages. From there, the items are placed in a single shopping cart and orders are fulfilled by Rakuten.com Shopping,
"As consumers embrace a more digital lifestyle, the way they shop and pay for things is changing. Today's consumer should not have to think about the shopping process; when they see what they want, they should be able to get it as quickly as possible," said Garry Lyons, chief innovation officer for MasterCard, said in a company statement.
MasterCard is also expected to provide ShopThis! To other Conde Nast magazines, including Vogue and Vanity Fair.
A similar "instant gratification" technology will be available in the future from Paydiant, a developer of mobile payment platforms for retailers and financial firms. Its technology can scan a quick response (QR) code off a television screen so that consumers can redeem a coupon or instantly buy products featured in TV shows or commercials.
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