The digital payment technology is available to more than 56,000 web shops worldwide that route payments through PAY.ON’s partners. When shoppers have to repeatedly enter account details and address information, it leads to higher rates of shopping cart abandonment. The continuing trend toward shopping on mobile devices therefore requires customer and merchant-friendly payment solutions.
With MasterPass, MasterCard is focused on consumer expectations as far as payment options is concerned. The solution combines several technologies for the first time, creating a digital wallet that stores payment and shipping information in a data center at the issuing bank, and then automatically transmits cardholder information to the merchant during the payment process.
Unlike some competing products, MasterPass aims to make digital wallet payments available for all users, and merchants who implement MasterPass have a significant opportunity to improve customer retention. PAY.ON and MasterPass offer payment technology. MasterPass is available via PAY.ON’s COPYandPAY, which allows merchants to enable payment processing within their online shop by incorporating a few lines of code. The active payment page includes nearly 100 payment methods and fraud prevention tools.
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