The FINANCIAL -- MasterPass officially rolls out in Latin America with the launch in the Brazilian market.
MasterPass by MasterCard is a digital payment platform that enables consumers to use any major credit, debit or prepaid card to checkout online conveniently, securely and with just one click. MasterPass saves consumers time by eliminating the need to re-enter payment and shipping details each time they make an online purchase at partner merchants, according to MasterCard.
Shopping online in Brazil is on the rise among consumers. According to e-bit Consultancy, e-commerce sales in Brazil are expected to end the year with an increase of 20% over 2014.
“The Brazilian consumer is continuously adopting new technologies that offer speed and convenience. To meet this demand, MasterCard wants to ensure that it offers the best payment experience for consumers regardless if they are making a shopping in the physical or digital world. With MasterPass every device – a phone, a tablet or a computer – can become a shopping device that is fast, convenient and secure”, said Marcelo Tangioni, VP Products of MasterCard Brazil and the Southern Cone.
Digital wallets integrated with MasterPass are already available thanks to recent launches by Caixa Econômica Federal and the Porto Seguro insurance company. Additionally, many large Brazilian e-commerce companies including, CNova group (CasasBahia.com.br, Extra.com.br, Pontofrio.com and Barateiro.com), Máquina de Vendas, The Beauty Box and Tray Shopping, have integrated MasterPass payments on their e-commerce sites.
“MasterPass is already available at a significant number of online retailers in Brazil. In fact, our merchant partners represent 30% of the e-commerce segment in the market and we expect our merchant reach to continue to grow,” Tangioni concludes.