MasterCard launched the global digital wallet MasterPass™ in Sweden – the first Nordic country to do so. Nordea, SEB andSwedbank are the first banks to issue MasterPass, making the digital wallet available for Swedish consumers.
„With MasterPass, consumers can easily store all their cards and shipping addresses digitally, making their online shopping safe, simple and smart through any connected device. MasterPass is connected to the Swedish Mobile BankID, a safe and well-established electronic identification service. In the nearest future, ICA Banken and Resurs Bank will also be issuing MasterPass in Sweden.”, according to the press release.
Online shopping is popular among Swedes. During the third quarter of 2015, 72% of the Swedish consumers had been shopping online.
”Swedes love to shop online, but often the checkout process can be too complicated. With the launch of MasterPass in Sweden, we take an important step within digital card payments with a safe, simple and smart way of paying online with just a few clicks. We are very delighted that so many prestigious Swedish banks are on board to issue the wallet”, says Mats Taraldsson, Head of Business Development MasterCard Nordics and Baltics.
With MasterPass, the consumer doesn’t need to type in card and address details each time they shop. In the digital wallet, the consumer can store all their debit, credit and prepaid cards from MasterCard and any other brand, as well as loyalty and member cards and their shipping address.
„With everything in one place, the consumer can shop safely, simply and securely at thousands of e-merchants globally. Initially, MasterPass can be used for online and in-app shopping, but soon consumers will also be able to shop with MasterPass in physical stores using any connected device.” says in the press release.
Swedes can register for MasterPass on www.masterpass.com or via any of the banks now issuing the digital wallet. Once registered, consumers can shop online wherever they see the ”Buy with MasterPass”-button which then opens up their digital wallet using Mobile BankID.
In the digital wallet, the consumer can choose which card and address they would like to use and then confirm the purchase. Alternatively, consumers can also register for a wallet during the checkout process after clicking on the “Buy with MasterPass” button.
MasterPass is now available in 27 markets around the globe, 13 of which are in Europe. It is accepted at 250,000+ merchants, including Swedish.
„Tendinţele pe care le-am remarcat înainte de începerea pandemiei s-au accelerat pe perioada stării de urgenţă. Am văzut acest lucru ca o oportunitate, un tipping point pentru bancă. Post-pandemie nu avem cum sa ne întoarcem la comportamentul financiar pe care îl aveam până în februarie a.c. Relaţia românilor cu online-ul s-a schimbat. In plus, cardul fizic se va dematerializa. Vom asista la o scădere a cererii pentru cardurile fizice, respectiv la o creştere a preferinţei pentru componenta digitală a acestora.”