Mastercard is strengthening its global Digital First programme to meet the rising demand for convenient and secure transactions for consumers. The Mastercard Digital First programme aims to maximise the safety, security and convenience of e-commerce, online banking and contactless transactions. Specifically, it provides guidelines for payment processors, fintechs and issuing banks to create end-to-end digital payment options at scale. In addition, it is backed by the speed and security of Mastercard’s global network.
Mastercard Digital First: enabling instant issuance
This includes the Mastercard Processing platform to enable instant issuance. And the Digital First programme offers consumers the ease of applying online and peace-of-mind while shopping. It gives consumers the choice of making payments with digital cards or directly from bank accounts by using smartphones, smartwatches or any other digital device. It also provides innovative new ways to receive payments including Mastercard’s QR on Card. This places a QR code on a consumer’s payment card to allow senders to scan and transfer funds securely.
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Mastercard: driving inclusive digital commerce
“Mastercard has been leading the drive into inclusive digital commerce for many years. It delivers frictionless and secure payment experiences for the billions of people shopping and managing their finances at their fingertips around the clock and around the world,” says Sandeep Malhotra, Executive Vice President, Products & Innovation, Asia Pacific, Mastercard.
“Combined with the strengths of Mastercard’s partners, the Digital First program offers the convenience of fast, transparent payments. It maximises consumer choice with everything from digital cards in e-wallets, to QR on Card, to Pay by Account. In addition, it lets people make payments from a bank account using their financial service provider’s app. For merchants, the benefits include access to a wider consumer base and faster availability of funds.”
Customers in Asia Pac include:
In Asia Pacific, Mastercard’s Digital First products are becoming the standard in many markets. Customers include HSBC, Mox by Standard Chartered and WeLab Bank. Other customers include Singapore’s GrabPay and in India, RBL Bank, Yes Bank and BOB Financial Solutions Limited; VIB in Vietnam, Sumitomo Mitsui Card Co. Ltd and Credit Saison in Japan, as well as a number of financial institutions in Australia such as Bankwest and Bendigo and Adelaide Bank. Payment processors and fintechs include Euronet Worldwide, Tutuka, HPS, Global Processing Services (GPS) and Episode Six. Other partners include digital platform providers such as Thales, Verestro (uPaid), Nuclei and Infosys.
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