Digital wallets powered by MasterPass will allow consumers in the UAE to store all their MasterCard or other branded payment card information, as well as shipping and billing address details, securely in one place. This gives them the ability to make online payments quickly, without the hassle of having to keep adding in these details for each online purchase.

“The world we shop in is constantly evolving and the ways we pay should keep pace. With a single click, tap or touch of the MasterPass button at checkout, consumers can access their preferred digital wallet and authenticate a payment,” says Eyad Al-Kourdi, Country Business Head - UAE, MasterCard. “Put simply, MasterPass is a digital payment solution that simplifies the entire shopping experience for consumers.”

MasterCard has partnered with three local issuing banks including RAK Bank, Mashreq Bank and Emirates NBD to offer digital wallets powered by MasterCard to cardholders in the UAE. In order to sign up, customers need to simply register online with their preferred issuing bank. Once that is completed, cardholders will be able to access their digital wallet when they shop at any participating merchant’s website. By selecting “Buy with MasterPass” as the payment option at checkout, consumers reduce the risk of exposing their personal information over potentially unsafe networks, and ensure that their transaction remains safe and secure.

For retailers, MasterPass provides a more secure, faster and easier way to accept payments from customers, enhancing the customer experience.Novo Cinemas and Aido.com are amongst the first merchants to accept MasterPass as a payment method at checkout, with additional merchants going live soon. As MasterPass in the UAE evolves, it will also enable in-app and in-store purchases, based on the shopping experiences a merchant wants to make available to its customers.

“According to research, over 67 percent of online purchases are abandoned before completing the payment process. With the checkout process reduced to a few clicks or taps, merchants can look forward to fewer customers discarding their online shopping trolley. With e-commerce rapidly increasing in the UAE, customers as well as merchants are looking for secure and convenient online payment solutions. MasterCard is proud to lead the way towards making cashless payments the easiest way to pay,” Al-Kourdi added.

MasterPass users can shop internationally at the over 60,000online merchants around the world that accept MasterPass, as long as their loaded payment cards comply with international standards. In the UAE, MasterPass is set to roll out across more major retailers in the near future providing local customers with a “digital one stop shop” that’s quick and convenient. .

First launched in 2013, MasterPass is available in thirteen countries including the USA, UK, Australia, Canada, China, Czech Republic, Italy, New Zealand, Poland, Romania, Singapore, South Africa, Taiwan and now in the UAE.