One wallet for all credit cards
The first service supported by SwissWallet is Master Pass, the digital payment solution by Mastercard. Masterpass is open to credit cards from all major card networks. The cards are already placed in the wallet and the card-based information, such as replacement cards or change in address are constantly updated on a system basis. The cardholder can enter other information related to transactions such as an alternative delivery address themselves as required, this is then accessed by a mouse click or finger tap with every online purchase. Payment processes are carried out quickly and easily with Masterpass, and consumers authenticate that they are the cardholder through a few very secure steps in the online shop. The identification and authentication of wallet owners are secured by a 2-factor method (e.g. a password combined with a separate security app), and adjusted to the processes of the respective card provider.
Shopping online by touch
Masterpass can be used on any device and even runs on all tablets and smartphones. Only the login data is entered when shopping, the rest of the payment process is completed by touching the touch display. In the first phase Masterpass can be used for shopping in online shops.
Trusted card partners
The card data entered for Masterpass are stored with SwissWallet on servers that are located within Switzerland. The customer data is subject to the respective card issuer’s data protection regulations and are equally as strict as with all other offers.
With Masterpass merchants receive the certainty that they are offering their customers a worldwide recognized and accepted digital payment solution. It is integrated into current payment processes in just a few days without having an adverse effect on the ongoing business. The check-out process is considerably faster and easier for customers. The purchase is made with just a few clicks, which is of course a major advantage in particular with the increasing popularity of shopping on smartphones and tablets.
Continuous expansion with new services
The SwissWallet scope of services is constantly expanded. New wallet features will be introduced until mid-2016. The launch of mobile payment, contactless payments in retail stores by NFC-enabled mobile phone, as well as international peer-to-peer payment features are scheduled for the second half of 2016.