30.07.2015, 16:36
Citibank India and MasterCard launch Citi MasterPass – The First Global Wallet in India
OREANDA-NEWS. Citibank India and MasterCard today announced the launch of Citi MasterPass, the first global digital wallet in India, making Citibank debit and credit card customers the first in the country to be able to shop at more than 250,000 e-commerce merchants, located in India and worldwide, with a safe, simple and quick online payment experience.
Citi MasterPass safely stores Citibank customers’ card and shipping information all in one place with MasterCard. By selecting “Buy with MasterPass” as the payment option at checkout, customers eliminate the need to fill in details repeatedly across online merchants. This reduces the risk of customers abandoning their shopping carts due to cumbersome payment processes or exposing their personal information over potentially unsafe networks.
“Over the last two years, we have seen an increase of over 76 percent in e-commerce transactions by our customers. These customers are constantly looking for simple, quick and secure experiences while shopping online. Citi MasterPass significantly reduces the checkout time across thousands of e-commerce merchants ensuring this would be the payment solution of choice for consumers in India,” commented Kartik Kaushik, Head of Consumer Banking, Citibank India.
MasterPass is present across 24 countries worldwide and is available to over 40 million consumers in Asia-Pacific alone. India is the first market in Asia Pacific where Citibank card customers will be offered the co-branded MasterPass solution. Today, around 41 percent of all Citibank card transactions in India are performed online, underlining the growing importance of global wallet solutions such as Citi MasterPass.
Speaking at the occasion Vikas Varma, Executive Director, South Asia, MasterCard said, “As Indian consumers embrace a more digital lifestyle, Citi MasterPass will enable efficient, secure and quick checkout experiences for shoppers. We believe Citi MasterPass is a significant step forward in the evolution of electronic payments. Beyond a platform that hosts digital wallets, Citi MasterPass will also provide the technology for merchants to offer new and innovative services, and unique features for shoppers.”
Not only does Citi MasterPass optimize the checkout experience, it is also expected to contribute to expanding e-commerce sales in the country, by reducing the cart abandonment rate with its simple, yet secure payment process.
About MasterCard:
MasterCard (NYSE: MA) is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone.
Citi MasterPass safely stores Citibank customers’ card and shipping information all in one place with MasterCard. By selecting “Buy with MasterPass” as the payment option at checkout, customers eliminate the need to fill in details repeatedly across online merchants. This reduces the risk of customers abandoning their shopping carts due to cumbersome payment processes or exposing their personal information over potentially unsafe networks.
“Over the last two years, we have seen an increase of over 76 percent in e-commerce transactions by our customers. These customers are constantly looking for simple, quick and secure experiences while shopping online. Citi MasterPass significantly reduces the checkout time across thousands of e-commerce merchants ensuring this would be the payment solution of choice for consumers in India,” commented Kartik Kaushik, Head of Consumer Banking, Citibank India.
MasterPass is present across 24 countries worldwide and is available to over 40 million consumers in Asia-Pacific alone. India is the first market in Asia Pacific where Citibank card customers will be offered the co-branded MasterPass solution. Today, around 41 percent of all Citibank card transactions in India are performed online, underlining the growing importance of global wallet solutions such as Citi MasterPass.
Speaking at the occasion Vikas Varma, Executive Director, South Asia, MasterCard said, “As Indian consumers embrace a more digital lifestyle, Citi MasterPass will enable efficient, secure and quick checkout experiences for shoppers. We believe Citi MasterPass is a significant step forward in the evolution of electronic payments. Beyond a platform that hosts digital wallets, Citi MasterPass will also provide the technology for merchants to offer new and innovative services, and unique features for shoppers.”
Not only does Citi MasterPass optimize the checkout experience, it is also expected to contribute to expanding e-commerce sales in the country, by reducing the cart abandonment rate with its simple, yet secure payment process.
About MasterCard:
MasterCard (NYSE: MA) is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone.
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