MasterPass Digital Wallet Launches in Canada
Further to my earlier blog entry – a knee jerk entry to be honest – comes a new development … MasterPass.
According to a press release by non other than Moneris Solutions,
Canadians first in North America to experience MasterPass – a better, faster way to pay while simplifying the digital shopping experience.
Of particular note is …
As of launch, merchants including Porter Airlines, WagJag, Jaunt.ca and Grocery Gateway have enabled MasterPass checkout services on their eCommerce websites. MasterCard plans to expand the number of MasterPass enabled merchants in Canada to 800 merchants by the end of 2013 and 2,800 merchants by the end of 2014. When making purchases through these companies’ eCommerce websites, MasterPass digital services will allow Canadian consumers to securely and seamlessly complete their transaction in a few clicks, eliminating the burden of filling out card and shipping information repeatedly.
Considering 800 merchants by the end of 2013 for online purchases without the need to enter your credit card number and billing address, that’s a good thing, I hope.
BMO Launches MasterPass-connected BMO Wallet
Current MasterPass partners include: WagJag, Jaunt.ca, Porter Airlines, Grocery Gateway, Roots, Global Payments Canada, TD Merchant Services, Moneris Solutions Corporation and BMO Bank of Montreal.
Time for statistics …
In Canada, eCommerce is growing at a much faster pace than retail sales. MasterCard Advisor’s SpendingPulse data shows total Canadian year-over-year eCommerce sales grew 26.6% over the past 6 months ending in February 2013, compared to just 2.9% growth in overall Canadian retail sales during the same time period.
So you can possibly draw to a conclusion that PayPal maybe a bit worried if this will affect their business within say a 3 year time frame, if no other offerings or deals are done by them. What I’m most curious about is if this new development will coincide or directly work/affect mobile NFC payments using MasterCard in Canada in the near future, say in 2 calendar quarters. We shall see.