PayPass

MasterCard jumps into mobile payments with own digital wallet

NEW ORLEANS--Think there are too many digital wallets out there? MasterCard would disagree.

The No. 2 payments processor today unveiled PayPass Wallet Services, its own take on the digital wallet. Initially, it will pop up in the form of a payment icon at merchant Web sites. The wallet will allow users to store all of their cards, and MasterCard plans to distribute developer tools to allow other wallets to work with its network. The move is an attempt to broaden PayPass beyond contactless payments and into something more ubiquitous.

MasterCard is just the latest to be lured in by the … Read more

Survey: Young more eager to pay via mobile phone

The mobile and banking industries have been all abuzz lately about offering consumers the ability to pay for items through their cell phones. But how do consumers actually feel about this?

Survey results released yesterday by MasterCard tried to gauge how comfortable people would be using their cell phones to pay for items on the go at stores, restaurants, and other retail outlets. And like many surveys focused on new technologies, this one showed a fairly big gap in feelings between the young and the not-as-young.

Among those 18 to 34 years old, 63 percent said they would be at … Read more