One of the biggest drivers of customer engagement today is simplicity. In an age of growing complexity and digital fatigue, brands that can achieve this preeminent goal stand a great chance of winning customer loyalty.
This is the objective of a new partnership between MasterCard and PAY.ON, a German-based payment system that provides flexible solutions to retailers everywhere. The partnership will enhance MasterPass, MasterCard’s fast, simple, and secure digital wallet that allows consumers to complete online transactions with thousands of merchants.
The integration will significantly increase the reach of MasterPass by leveraging PAY.ON’s white global payment gateway and its numerous partners. This will give MasterPass access to over 110 payment service providers (PSPs), which will allow almost 60,000 additional online global merchants to engage with the service.
"MasterPass offers merchants - on the web, via in-app payments on mobile devices, and, in the future, in stores - a user-friendly solution that simplifies payment for customers by bundling together multiple payment and customer loyalty cards, and minimizing shopping cart abandonment," said David Klemm, Head of Acceptance Development Germany at MasterCard.
MasterPass makes online shopping convenient by aggregating information from a number of sources to simplify the process. MasterPass stores payment and shipping data, eliminates the need to continually fill out various personal information fields, automatically merges with internal banking systems, and transmits MasterCard customer information directly to online businesses.
Customers can complete secure transactions in only a few clicks. Since research has shown that an overly complicated online transaction process leads to higher levels of cart abandonment, MasterCard believes that MasterPass will significantly benefit retailers trying to enhance customer engagement and retention.
PAY.ON is also excited about the new partnership, and about the potential opportunities that the new integration presents.
"We are pleased to further build upon our close partnership with MasterCard,” said Wolfgang Berner, PAY.ON Senior Vice President Product. “With MasterPass, merchants and shoppers have a multifunctional payment method that allows for centralized and secure use of all available online payment methods. This sets a new standard for digital wallets, or eWallets."
MasterPass is also accessible through PAY.ON’s COPYandPAY, which easily integrates with existing online merchant systems with a simple software upgrade.