Mastercard Adds Retail Mobile Payments to Bank Apps
Android owners will soon be able to use their own mobile banking app — rather than Android Pay or Samsung Pay — to make tap-and-go payments in stores. Mastercard has expanded its Masterpass program to mobile devices so consumers can make contactless payments at various retailers. Mastercard first introduced Masterpass in 2014 to power in-app and online payments. Customer credit card data is stored in the cloud and tokenized for security, allowing people to make purchases with one click. Mastercard is extending Masterpass to its banking customers so those banks can add contactless payment capabilities to their own apps. Some of the first banks to support contactless payments include Bank of America, Capital One, Citi, Fifth Third Bank, KeyBank, People’s United Bank, and Virginia Credit Union. Mastercard says 17 banks in total plan to add mobile payments to their apps in the near future. (One glaring omission at launch is JPMorgan Chase, which has so far shunned Android Pay. Chase is working on its own mobile payment service that has yet to launch.) Contactless, Masterpass payments will be available at more than 5 million retail locations across 77 countries that accept contactless payments via NFC. In the U.S., BJ's Wholesale Club will be among the first to support the bank-based mobile payment tool, with JetBlue, Saks, Lord and Taylor, Subway, and The Cheesecake Factory to follow shortly. It will be up to the individual supporting banks, such as Citi, to add contactless payments to their mobile apps.
Microsoft Wallet Gains Tap-to-Pay Functionality
Jun 21, 2016
Microsoft today updated its Microsoft Wallet app and gave Lumia smartphone owners the ability to make mobile payments at supporting retailers. Windows Mobile has long included a Wallet app, but until today it was reserved for loyalty cards and other retail programs.
Samsung Pay Launches In the US
Sep 28, 2015
Samsung today made its mobile payment service, Samsung Pay, available to U.S. consumers.
Android Pay Rings Up Chase In the US
Sep 7, 2016
Google today said Chase has agreed to support Android Pay on Android smartphones and other devices. Starting immediately, Chase customers can add their eligible Chase Visa debit/credit card to Android Pay and make tap-and-go payments wherever Android Pay is accepted.
Chase Bank Reveals Its Own Mobile Wallet Plans
Oct 26, 2015
JPMorgan Chase plans to launch a competitor to Apple Pay and Android Pay that will allow cardholders to make payments with their smartphones. Chase Pay is expected to debut on Android and iOS devices soon, though the company won't market it aggressively until next year.