By Brianna Ahearn, contributing writer
MasterCard's Masterpass digital payment system launched in February 2013, and was quickly embraced by retailers from multiple industries. Mastercard recently announced the payment platform has two new merchants signing up for it to make shopping easier for their customers. Neiman Marcus and Office Depot will be the newest retailers to accept Masterpass, which is currently used in 16 countries.
Neiman Marcus has made several high profile investments into technology lately by adding smart mirrors and interactive tables to several test stores. The addition of Mastercard Masterpass makes it easy for their customers to shop at the retailer with convenience when in-store. Neiman Marcus is trying to improve their customers' in-store experience, and Masterpass is the newest tool they've employed. Digital payment systems are at the forefront of many retailers' 2015 focuses, and Neiman Marcus has been quick to adapt.
“Customer service is at the heart of every decision we make at Neiman Marcus. MasterPass will allow our customers the ability to complete purchases quickly, both online and via any mobile device they choose,” says John Koryl, president of Neiman Marcus stores and online.
Office Depot has shown it's invested in digital payment systems, and signed on to accept Apple Pay in October 2014, with plans to integrate Apple Play into the Office Depot into their existing iOS app. No news has been shared on how the impending Staples-Office Depot merger will affect the existing pay systems for Office Depot.
With Masterpass, customers can add in payment cards online or in their app, then access them to pay on supported devices. Masterpass saves the payment and shipping information to make it easy to pay and bypass “check in” forms. The card provider touts the process as “seamless and secure” for customers to use, and Masterpass accepts MasterCard, American Express, Diners Club, and Visa cards. Masterpass functions as an open wallet, and also accepts retailer loyalty card, something the now-defunct Amazon Wallet app used to offer.
“Consumers are embracing a digital lifestyle and, to meet this shift, the shopping and payment experiences needed to evolve,” says Beth Kitchener, business leader for U.S. Markets Communications for MasterCard.
MasterCard made the announcement of Office Depot and Neiman Marcus adopting Masterpass via press release on January 30, 2015. MasterPass is accepted at a variety of retailers including travel companies, ticket sellers, jewelers, and more. The company says more retailers are set to implement the digital payment system in the coming months, with companies like Broadway.com, Chegg.com, and more joining the list.
Although Masterpass could be conceived as a competitor to Apple Pay, the company authorizes its cards to be run through Apple Pay, and recently expanded the list of banks with MasterCards applicable for the payment system; the list includes BECU, Fifth Third, First Niagara, and Huntington National Bank. Adding Office Depot and Neiman Marcus is a big step for Masterpass, and show both retailers are committing to digital payments, which look to be the new trend of technology in 2015.