MasterCard says its new digital payment platform MasterPass is targeted at the fast growing ranks of Hongkongers who like to shop online.
It says MasterPass delivers “a seamless, faster and safer online shopping experience for local consumers”.
Using MasterPass, consumers can securely store their MasterCard and other branded card information all in one convenient place, along with shipping and billing addresses. Allowing consumers to conveniently access the payment details in their wallet during checkout eliminates the need to enter payment and shipping information with every purchase, and simplifies the process of completing a transaction, with just a click, tap or touch, anywhere, on any connected device.
“Seeing the enthusiasm Hong Kong consumers have towards the emerging digital lifestyle and enhancing their online shopping experience, MasterCard is partnering with Bank of East Asia, China Construction Bank (Asia), Dah Sing Bank and DBS Bank to launch branded MasterPass digital wallets.
MasterPass is now accepted at a wide variety of online merchants in Hong Kong, including Broadway Circuit and Zuji, in addition to more than 250,000 online merchants around the world, providing a more secure and convenient option for Hongkongers to pay for flight tickets, clothes, beauty, products and even food online.
While consumers can skip the hassle of filling out personal information on each purchase and shop confidently with multi-layered security, MasterPass also benefits merchants by fostering loyalty, as a consumer’s loyalty card can be passed automatically to merchants along with payment details during checkout.
“According to the latest MasterCard Online Shopping Survey in Hong Kong, nearly 90 per cent of local consumers love to shop online using their mobile devices,” said Anna Yip, Head of Hong Kong and Macau, MasterCard.
“We have also found that security and reputation of the website are both top considerations for local consumers when shopping online. MasterPass addresses the concerns of online shoppers, as well as their needs of speed, ease and convenience by offering a one-stop secure payment platform for our digitally-savvy consumers, who are looking to shop and pay safer, faster and simpler. MasterCard is leading the transition to digital payments with the convergence of innovation and digital lifestyle.”
MasterPass is now available to over 40 million consumers across Asia/Pacific. In addition to Hong Kong, Taiwan made its MasterPass debut last October, while the solution is also available in Australia, Canada, China, Italy, New Zealand, Singapore, the UK, the US and many other countries.
Charlie Wong, CEO of Zuji, says online travel booking has grown in popularity in Hong Kong in recent years and this emerging trend will soon become a new travel purchasing habit.
“With less typing and stored preferences, MasterPass makes checkout fast and simple for consumers, lowering the cart abandon rate and increasing conversion,” he said.
Grace Cheung, GM of Broadway Circuit, said her company was seeing more and more customers purchasing movie tickets online.
“MasterPass can save our customers time entering the 16-digital credit card number and other information in the small boxes on the screen. This is a true advantage for our busy, on-the-go customers,” she said.