Absa company launches Masterpass for South Africa
Financial services provider Absa recently launched the Absa Masterpass App, which is a digital wallet powered by Mastercard. The app functions as a safe and easy way for South African consumers to pay merchants that accept Masterpass.
What’s separates the Masterpass app from other digital payment channels is that it allows users to make online purchases via smartphones without the need to key in bankcard details. Soon, customers will also be able to make in-store shopping using the app.
Apart from removing the need to key in card details with every purchase, Masterpass allows users to store all of their credit, debit, and cheques with the app. This makes Masterpass like a digital wallet that can never be stolen unless the thief discovers the user’s password and passcode.
“The global banking industry is faced with an ever-changing landscape as customers opt to migrate to digital channels,” said Willie van Zyl, the Head of Card Issuing for Absa. “We are seeing a huge change in the way our customers shop and pay for things, and the Absa Masterpass App is another step on our mobile banking journey as we respond to the changing needs of our customers. It also gives them access to a smooth shopping experience – from start to finish and in real time. It allows people to conduct the transaction of their choice through the channel of their choice – any time and in any place.”
The ever-changing landscape of the digital industry affects not only card issuers in the world but also other digital merchants. According to Smart Insights, 80% of Internet users in the world now own a smartphone. UK-based tech company Gaming Realms, which popularized the legendary Slingo game that dates back to 1995, mirrors van Zyl’s sentiments regarding the changes in the way that customers shop, consume content, play online and pay for things. Gaming Realms has transformed its business into a series of “smart platforms,“ which center on making content easily to access. Masterpass reflects this ideology by making online shopping easier and more accessible to consumers.
The app is available for both iTunes and Android users.