Tons of financial companies are grabbing the market left and right but MasterCard just scored a deal with Walmart. Walmart, a huge retail chain, will now support MasterPass.
MasterPass is the next new thing for online Walmart consumers. This check out solution is an idea similar to that of Amazon's.
MasterPass allows online consumers to enter their information, similar to that of a credit card. After selecting online purchases through Walmart's website, users can then pay directly with one click.
In a statement from MasterCard,
Walmart Online Shoppers in the U.S. will soon be able to skip the checkout forms by clicking the "Buy with MasterPass" button.
MasterCard executive Michael Cyr, is quite excited and pleased regarding this new product expansion because the company had always had a good relationship with Walmart.
In a recent study, online users are still purchasing products online through the conventional way because PC or lap tops are convenient for entering necessary billing information for every purchase. The study shows that tablet devices are second to the traditional method but mobile use ranked the least. Why is this so? Because of convenience. In today's fast paced world, more and more users are bringing their home and office with them straight to their mobile devices.
This is primarily crucial for online convenience as a large percentage of users are now purchasing products online through the use of their mobile smart phones. One-click platforms help increase the rate of users purchasing online and on their phones without the hassle of re-entering payment, billing and shipping information for every single thing they buy.
Mobile sales could increase for Walmart with the help of MasterPass.
There is no mention if the MasterPass can be used for in-store purchases as of yet, reports have indicated. However, Walmart had previously released Walmart Pay, a mobile wallet method where billing and payment information is barcode based.
