Mastercard : More Singapore Merchants and Banks Choose MasterPass

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Singapore, 12 November 2014 - MasterPassTM, MasterCard's global digital payments platform, is off to a strong start in Singapore, with all three leading local banks, DBS, OCBC and most recently, UOB, inking partnerships with MasterCard to offer MasterPass. Singapore was the first market in Southeast Asia to launch MasterPass in June 2014.

MasterPass users can also look forward to speedier checkouts with more frequently visited or preferred merchants with the recent launch of In-App payments. Consumers can "connect" their MasterPass wallet with a merchant, and complete a checkout in as little as one click. Connecting a MasterPass wallet to a merchant site or app is easy. When buying with MasterPass, consumers can choose to connect their wallet to the merchant after selecting payment and shipping information. When a consumer returns to that merchant's site, checking out with MasterPass will be faster than before.

"The integrated login functionality means that shoppers will not have to register for separate accounts at their favourite merchants in the future since shoppers can simply login with MasterPass. For merchants, the incentive to offer MasterPass as a payment option is that customers are less likely to "abandon their carts" while shopping online because they can check out in fewer clicks - even more so with In-App payments," said Deborah Heng, group head and general manager, MasterCard Singapore.

MasterCard's consumer research[1] revealed that people love the freedom of exploring the world of online shopping, but have reservations about the data security around the process. By selecting "Buy with MasterPass" as the checkout option, customers reduce the risk of exposing their personal information over potentially unsafe networks.

Added Ms Heng, "The security and convenience that MasterPass offers are the key reasons why consumers, banks and merchant partners have shown great interest in adopting and using this digital payment platform. Often customers are reluctant to enter extensive billing and shipping information, and MasterPass is the solution that eliminates that hassle."

MasterPass is now accepted by more retailers such as Qoo10 and Lazada, joining partner merchants such as Luxola, Shaw Theatres, and Singapore Airlines KrisShop Online.

"As the No.1 e-commerce site in Singapore, we are very happy to provide a safe and convenient shopping environment to our customers in cooperation with MasterCard. Our customers are our top priority and we are committed to giving them the very best experience. Incorporating MasterPass enhances the Qoo10 shopping experience because MasterPass will make checking out simpler and more secure across devices, particularly on mobile," said Cho Hyun Wook, Singapore Country Manager and SEA Business Division Head, Qoo10.

"We are excited to be partnering with MasterCard as part of our commitment to provide a fast, secure and effortless online shopping experience for our customers. As the largest online shopping mall in Southeast Asia, we are constantly looking for innovative solutions to online payment as we spearhead the growth of e-commerce in the region. This strategic partnership also demonstrates our commitment to security as we allow consumers to shop with confidence at Lazada," said Martell Hardenberg, CEO, Lazada Singapore.

To encourage more shoppers in Singapore to use MasterPass, MasterCard has unveiled a marketing campaign with partner merchants such as Luxola, Shaw Theatres, and Singapore Airlines KrisShop Online as well as with new MasterPass merchants Lazada and Qoo10.

Shop on us with MasterPass - from now to 31 December 2014, the first 3,500 who sign up for a new MasterPass wallet with any wallet issuer via www.masterpass.com.sg, stand to receive a $50 prepaid card from MasterCard. Details are available at www.masterpass.com.sg.

In addition, cardholders who make payment with MasterCard cards in their MasterPass wallets will enjoy the following offers from now till 31 December 2014:

All promotional terms and conditions are available on www.masterpass.com.sg.

About MasterPass

MasterPass is the MasterCard digital payment solution that simplifies the entire shopping experience for consumers. MasterPass enables consumers to pay with any enrolled payment card, anywhere, using any device. Consumers securely store MasterCard and other branded credit, debit and prepaid card information, as well as certain private label and loyalty cards, along with shipping addresses, all in one place, so that they can be easily accessed during checkout. MasterPass eliminates the need to enter detailed payment and shipping information with every purchase, and simplifies the process of completing a transaction from any connected device.

MasterPass first launched in February 2013, and in June 2014, Singapore was the first market in Southeast Asia to launch MasterPass. MasterPass is accepted at more than 40,000 online merchants around the globe. MasterPass is "live" in 13 markets around the world - Australia, Canada, China, Czech Republic, Italy, New Zealand, Poland, Romania, Singapore, South Africa, Taiwan, the United Kingdom & the United States.

Wallet issuers in Singapore "live" with MasterPass include CIMB Bank, DBS Bank, Maybank, OCBC Bank and UOB Bank. MasterPass-connected wallets enable banks, merchants and other partners to offer their own branded wallets that extend and enhance their own consumer relationships. MasterPass is accepted at online merchants in Singapore, including Luxola, Shaw Theatres, Singapore Airlines, Singapore Airlines KrisShop Online, SISTIC and Zuji. Payment technology providers AsiaPay, eNETS, MC Payment, Red Dot Payment and WireCard have also begun to avail MasterPass to their merchants.

Singapore consumers can sign up for MasterPass at www.masterpass.com.sg

About MasterCard

MasterCard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. We operate the world's fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard's products and solutions make everyday commerce activities - such as shopping, traveling, running a business and managing finances - easier, more secure and more efficient for everyone.@MasterCardAPand@MasterCardNews, join the discussion on the Cashless Pioneers Blog and subscribe for the latest news on the Engagement Bureau.

Contacts:

Archana Shah, Weber Shandwick, ashah@webershandwick.com, +65 6825 8013

Lynette Lioe, Weber Shandwick, llioe@webershandwick.com, +65 6825 8006

[1]  MasterCard Online Shopping Survey 2013