Cellum News

Making the most (and making sense) of MasterPass

OTPay with MasterPass - splash screenOn Tuesday at 1:30 p.m. Central European Time, MasterPass went live in Hungary. It was the latest national launch of card scheme giant MasterCard’s emerging global platform for digital payments, and Cellum is proud to have played a key role by leading development of the new market’s first MasterPass-enabled mobile wallet.

So what is MasterPass? Despite MasterCard’s ubiquity and its clear commitment to the initiative, what MasterPass is and isn’t, and what it can do for users, merchants and others is not as immediately obvious. Part of this is because of some confusion with PayPass and MasterCard Contactless, “tap and pay” EMV card systems being phased out and folded into the MasterPass brand.

Over time, MasterPass is expected to encompass a broad range of wallet use cases, but for the time being is focused on making e-commerce and m-commerce more convenient and secure. As with PayPal, it allows shoppers within enabled sites or apps to click on a button and make a purchase without typing in a lengthy list of payment details, which can be especially onerous when using a mobile device. But it also lets users easily switch between different payment cards and instruments within the single MasterPass wallet, as well as shipping addresses and loyalty cards. And as unencrypted card details are not provided to merchants, transaction security is significantly increased.

While the checkout use case alone will make MasterPass an immediate must-have for many e-commerce firms, expansion of the service – most notably to include proximity (in-store) mobile payments – will give it value to all types of merchants.

Because of this, Cellum has from the beginning worked to be among the first tier of firms worldwide providing solutions tailored to the MasterPass ecosystem, as an official MasterPass wallet developer connected directly to the MasterPass cloud, and a service provider offering integration with merchants.

After producing the first-ever third-party MasterPass-enabled mobile wallet in Europe, Cellum debuted a unique wallet SDK allowing others to turn their own apps into MasterPass-enabled wallets tied to any acquirer.

Meanwhile, in its role as a service provider Cellum offers merchant integration, including transactions through our payment gateway, and both technical and branding support, the latter of which can be crucial. Our merchant SDK is compatible with virtually all e-commerce platforms, in most cases requiring just 2-3 weeks for integration.

Most importantly, all of the firm’s MasterPass solutions utilize the Cellum Split Secret card vault, which employs a patented tokenization and data fragmentation method capable of giving merchants, end-users and everyone else in the payments chain a level of security that isn’t just an improvement, but practically unimprovable.