More Cha Ching!
MasterCard (s ma) is expanding its mobile payment service PayPass into a larger platform called PayPass Wallet Services that will enable PayPal-like online payments and will include APIs (application programming interfaces) for developers to integrate their payment apps and services with PayPass. The service takes MasterCard further into digital payments and pits it against credit card rivals Visa (s v) and American Express (s axp), who are also moving forward with their digital wallet offerings.
PayPass Wallet Services will include three components:
- The PayPass Acceptance Network will allow merchants to handle electronic payments both online and contactless using near field communications.
- PayPass Wallet gives consumers a way to pay for things using any number of credit, debit and pre-paid cards from Visa, American Express, Discover. Consumers will be able to easily check-out without having to enter in credit card and shipping information.
- PayPass APIs will show developers and partners how to…
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