MasterCard has extended the availability of its digital payment platform MasterPass to consumers in Hong Kong.
The move aims to tap on Hongkonger's passion for online shopping, evident by 90 percent of local consumers claiming to "love shopping online using their mobile devices" in a MasterCard Online Shopping Survey.
With MasterPass, consumers will be able to skip the hassle of filling out their payment information every time they shop online. They will only need to enter their MasterCard card information as well as shipping and billing address once. Thereafter, they could complete a transaction with a click, tap or touch on any connected device.
"MasterPass addresses the concerns of online shoppers, as well as their needs of speed, ease and convenience by offering a one-stop secure payment platform for our digitally-savvy consumers," said Anna Yip, MasterCard's Head of Hong Kong and Macau.
To accelerate the adoption of MasterPass, MasterCard is partnering Bank of East Asia (BEA), China Construction Bank Asia (CCB), Dah Sing Bank, and DBS Bank to launch branded MasterPass digital wallets. These wallets include BEA MasterPass, LongPass for CCB, Dah Sing MasterPass, and DBS MasterPass.
Helping to foster customer loyalty
According to MasterCard, MasterPass would benefit merchants too by helping to foster customer's loyalty. This is because consumers' loyalty card can be passed automatically to merchants along with payment details during checkout. Online merchants in Hong Kong that have embraced MasterPass include Broadway Circuit and Zuji.
"Online travel booking has grown popularity in Hong Kong in recent years and this emerging trend will soon become a new travel purchasing habit. With less typing and stored preferences, MasterPass makes checkout fast and simple for consumers, lowering the cart abandon rate and increasing conversion," said Charlie Wong, Chief Executive Officer of Zuji.
As a launch promotion, the first 1,000 consumers in Hong Kong who purchase at least two movie tickets at Broadway Circuit, AMC Cinema and MCL Cinema online will receive a box of free popcorn.
MasterPass is now available to more than 40 million consumers across the Asia Pacific region.
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