MasterCard Hong Kong pushes digital wallets

MasterCard Hong Kong has showcased its latest payment and retail innovations at its Innovation and Security Forum.
Its new digital wallet technology aims to help consumers skip queues for payment and check-out lines by making payments with a selfie or fingerprint scan.
With MasterPass, an in-app payment system, people can book a taxi and pay automatically with their MasterPass accounts connected to the taxi service provider’s app.
MasterPass also supports an F&B app to enable customers to order and pay for drinks. They can also use the app to order coffee in advance.
“The app can work in conjunction with loyalty programs,” says MasterCard division president (Hong Kong, Macau and Taiwan) Hiang Choong. “MasterPass can integrate the entire customer experience from ordering to payment.”
For enhanced data security, MasterCard has introduced the MasterCard Digital Enablement Service (MDES), which helps transform any connected device into a commerce device. Using industry-standard EMV cryptology, MDES ensures customer data security for purchases in-store, in-app and online. The user’s identity must be validated by fingerprint.
To guard against online identity theft, MasterCard has also introduced GogoNogo, a consumer-activated system for continuous control of payment cards. It is a customisable self-servicing platform that allows cardholders to enable or disable spending controls on their registered cards. Cardholders are also alerted when transactions are made or attempted with the registered payment card.
Finally, the MasterCard Forensic Reader is a tool already used to help law-enforcement agencies identify suspect counterfeit payment cards.
Meanwhile, Inside Retail reported in February that digital wallet take-up in Hong Kong was poor compared to most other Asia Pacific countries., according to a mobile shopping survey by MasterCard.

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