MasterPass Added to ProPay’s Online Checkout Options

ProPay is getting on board with MasterPass.

The financial services company, which is owned by TSYS, announced yesterday (April 14) that it has added MasterCard’s digital wallet, MasterPass, to its options for online checkout.

MasterPass operates by allowing a consumer to securely store his or her credit card data — including profile information such as shipping addresses — online for easy access during checkout. The digital wallet eliminates the need for an online shopper to have to reenter his or information during every purchase or whenever a different connected device is used in a payment transaction.

“ProPay is pleased to add MasterCard MasterPass as one of its checkout options,” said Dave Duncan, president of ProPay, in the press release announcing the MasterPass addition. “With the addition of MasterCard MasterPass, ProPay enables merchants with more than 10 ways to accept payments so they may conduct transactions anytime, anywhere, in-person, online and offline in a secure manner.”

“The checkout is simply the means to deliver on a consumer need or want and the more intuitive we can make that process the more satisfied the customer,” added Michael Cyr, group executive of North America Market Development at MasterCard, in the release. “We’re honored to partner with ProPay who shares this vision of driving a faster, simpler and more secure checkout experience.”

Also in the press release, ProPay cites recent statistics showing that difficulties for consumers during the online checkout process lead to cart abandonment rates as high as 74 percent, which this year will amount to $4 trillion in abandoned merchandise. The utilization of a digital wallet like MasterPass is a step toward trying to curb those losses.

Incorporating MasterPass isn’t ProPay’s only recent move geared toward easily implementing payment processing: just last month, the company released ProFac Express, a suite of services that provides aggregation and traditional payment processing support. Wrapped into that service is ProPay’s ProtectPay platform, which provides payment facilitators with a series of options related to tokenization and encryption.