MasterCard continues to establish strong mobile commerce presence
Financial giant MasterCard continues its steady march into the world of mobile commerce with the release of a new credit card that could change the way people pay for products. Mobile commerce is poised to become a big part of the lives of consumers, many of whom are turning to their mobile devices for daily services and connectivity. As consumers become more dependent on their mobile devices, companies in the technology and financial industries are looking to establish a stronger presence in mobile commerce. MasterCard is poised to up the ante, so to speak.
Display Card combines smart phone technology with a credit card
The financial institution has revealed a new credit card that is equipped with a touch-sensitive keypad and an LCD display. MasterCard calls the products, simply, “Display Card.” The Display Card is very much like a smart phone in concept, but more akin to a traditional credit card in appearance. The card will function in much the same way MasterCard’s other products do, but will also have a use in mobile commerce. The keypad exists to allow users to authorize large purchases through the input of a password, while the LCD screen provides limited information concerning the purchase and the amount of money due.
Display Card on trial in Singapore
Currently, the Display Card is available only in Singapore. The card is currently being tested for its viability to various demographics of consumers in that country. Thus far, the card has been somewhat popular amongst the wealthy, but many other consumers seem to prefer their mobile devices when making a purchase of goods. Those without smart phones largely rely on traditional forms of commerce, such as bank cards or physical currency.
MasterCard could add new features in the future
Though the features of the Display Card are somewhat limited currently, MasterCard suggests that there are many things that can be done to the card in the future. Additional features can be added to the card to help it appeal more to consumers, allowing them to check their bank account balance for example. How this will affect the company’s place in the highly competitive mobile commerce business has yet to be seen.
MasterCard teams with ING Bank to focus on QR codes
MasterCard has begun testing new ways to allow consumers to make online transactions securely. The financial institution envisions a platform that will protect consumers from the risks they face in the online world while also providing them convenient service. The company’s PayPass platform has become somewhat popular in mobile commerce, but MasterCard is looking to expand the capabilities of this platform and has set its sights on QR Codes. MasterCard has teamed with ING Group, a Dutch bank, to launch a trial project for its new initiative in the Netherlands.
QR codes becoming much more than marketing tool
QR codes are widely used in mobile marketing, but have seen some use in the realm of mobile commerce. The codes first rose to popularity in Japan in the 1990’s, where advertisers would use them to provide engaging content to consumers. The codes have filled this role all over the world since then, but have begun expanding beyond their advertising roots. QR codes have begun seeing use as parts of virtual stores, wherein consumers can scan the codes to purchase particular items from a mobile website that is associated with a retail store.
Netherlands trial will put QR codes to use in mobile commerce
MasterCard believes that QR codes would be a secure platform for mobile transactions. The company, along with ING Group, are keen to see how the codes can function in mobile shopping in the Netherlands. The PayPass platform is MasterCard’s flagship mobile commerce platform and will participate in the trial. Consumers with be able to use the PayPass to make purchases of goods through a number of participating retail stores. Consumers will also get a chance to use QR codes, which can be scanned to facilitate a mobile transaction through a secure website.
Viability of barcodes to be put to the test through 2013
The trial will run through the first quarter of 2013. MasterCard and ING Group will collect data concerning the trial to determine the viability of QR codes in mobile commerce. If consumers find the codes to be efficient, they may soon become much more than a simple marketing tool. This will be especially true if MasterCard can see that the codes are able to facilitate a more secure form of mobile commerce.
