MasterCard, Google boost cashless transactions
June 2, 2015 :
United
States-based payment company, MasterCard Incorporated, has signed an
agreement with Google to expand cashless transactions for its
cardholders.
The agreement led to the introduction of
Android Pay, a product which will enable MasterCard credit, debit,
prepaid and small business cardholders to use their android phones for
everyday purchases in-store and within Android apps.
According to a statement by MasterCard,
the development provides its cardholders with more options for paying on
the go using their mobile device
It added that the ubiquity of mobile phones was changing the way consumers pay.
The
statement said that starting this summer, owners of eligible Android
devices would be able to use their MasterCard credit, debit, prepaid and
small business cards directly through Android Pay.
The Chief Emerging Payments Officer,
MasterCard, Ed McLaughlin, was quoted as saying, “Mobile payments are
here today, and are now an essential part of the core value proposition
for new devices.”
He said, “With the MasterCard Digital
Enablement Service and Android Pay, we can now use secure tokens to
easily enable payments from a consumer’s connected device.
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