Sweden has become the first Nordic country to issue MasterPass digital wallets. Nordea, SEB and Swedbank are the first banks to issue MasterPass, soon to be joined by ICA Banken and Resurs Bank.
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.
MasterPass is connected to the Swedish Mobile BankID, a safe and well-established electronic identification service.
During the third quarter, 72% of the Swedish consumers had been shopping online.
MasterPass is now available in 27 markets around the globe, 13 of which are in Europe. It is accepted at 250,000+ merchants such as Lastminute.com, Visitlondon.com and The Hut. In Sweden, consumers can already shop at Bubbleroom, Halens and Cellbes, as well as at Webgallerian and the app Close Eat among others. More Swedish merchants will be added soon.
For data, background and forecasts on MasterPass: Search CardWeb.com’s CardFlash® Library of more than 58,000 archived articles; Access CardWeb.com’s CardData® for current and historical Performance, Portfolios, Profiles, etc. Visit RAM Research® (ramresearch.com) for quarterly and annual forecasts covering more than 150 metrics. [complimentary or deeply discounted access to CardWeb.com subscribers].
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