19 January 2018
visit http://response.ncr.com

Nordic banks sign up for MasterPass

20 December 2013  |  11774 views  |  1 Stockholm, Sweden

Nordea, SEB and Swedbank are to launch digital wallets for consumer online shopping using the MasterPass platform from MasterCard.

MasterPass eliminates the need for consumers to enter detailed shipping and card information to complete their online purchases as the wallet automatically inserts name, address and card information at every purchase.



In Sweden, the wallet has also been integrated with the national Mobile BankID standard for secure log-in.

Alongside the bank support, MasterCard has signed up Internet payment processor Paynova, which will offer its merchant customers the 'buy with MaterPass' button for their Web sites.

Initially being deployed for e-commerce, MasterPass will eventually be expanded to include instore payments via NFC and QR codes.

"With the digital wallet from MasterCard based on their digital platform MasterPass, we will eventually be able to offer a fast, safe and global solution for shopping online, with a smartphone. A solution that in the future will also work in the physical store", says Nils Hilbard, head of strategy at SEB Kort.
KeywordsE-COMMERCE

Comments: (1)

Sreeram Yegappan
Sreeram Yegappan - Cognizant - London | 06 January, 2014, 16:05

My view is that this has been developed to counter Paypal check-outs which are much easier rather than typing in the entire card details on every online purchase and also to ensure we dont leave a digital footprint of card details in every website we purchase from.

One advantage for the retailer is that the middleman is cut out, as Masterpass should build this into their Interbank settlement charges unlike Paypal which will charge a fee..

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

MasterCard MasterPass arrives in the UK

MasterCard MasterPass arrives in the UK

30 July 2013  |  11855 views  |  0 comments | 15 tweets | 13 linkedin
MasterCard unveils MasterPass digital payments service

MasterCard unveils MasterPass digital payments service

25 February 2013  |  12111 views  |  1 comments | 15 tweets | 7 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.niceactimize.comvisit www.ebaday.comvisit www.capgemini.com

Top topics

Most viewed Most shared
Europe begins Open Banking era in subdued styleEurope begins Open Banking era in subdued...
11304 views comments | 32 tweets | 38 linkedin
Crypto mining threatened by power capacity concernsCrypto mining threatened by power capacity...
10357 views comments | 17 tweets | 18 linkedin
Wells Fargo to close 900 branchesWells Fargo to close 900 branches
9964 views comments | 14 tweets | 16 linkedin
KFC introduces Bitcoin BucketKFC introduces Bitcoin Bucket
9425 views comments | 18 tweets | 16 linkedin
FinTech Scotland appoints new CEOFinTech Scotland appoints new CEO
8519 views comments | 8 tweets | 6 linkedin

Featured job

Competitive base + commission + benefits
London, UK

Find your next job