In today's competitive marketplace, financial institutions have to work harder to stand out. MasterCard offers a compelling array of value-added services to help you deliver a better customer experienceincreasing loyalty, spending, and brand preference.
By 2013, the number of global contactless card transactions will soar from 3.5 billion in 2009 to 31.8 billion.1 MasterCard is perfectly positioned to capitalize on this shift in payment behavior with the world's leading contactless solution, MasterCard PayPass. PayPass helps you meet your busy customers' demand for faster checkout and convenience in low-dollar categories. Capturing low-value cash payments on a card has been shown to increase spend, transaction volume, and loyalty. PayPass' innovative Tap & Go™payment method is a win-win for consumers, issuers, and merchants. Since its 2005 market introduction, PayPass has been deployed in 37 countries for use at 425,000 merchant locations worldwide.
Money Manager, MasterCard's online budgeting and spend analysis tool, empowers your debit, prepaid, and credit cardholders to create a budget and review their spending by merchant category or their own custom categories, so they can better manage their money. It is also a powerful loyalty tool for you. Cardholders have indicated that they are more inclined to put more transactions on cards linked to MasterCard Money Manager, as they can track spending more effectively. And because the tool resides on your own website, it increases the number of touch points between your institution and your cardholders, enabling targeted marketing messages, cross-selling of products, and competitive differentiation.
Every year, U.S. consumers make 3 billion person-to-person (P2P) payments to family and friendsamounting to over $1 trillion in volume. 2 That's a pretty strong case for tapping into the money transfer opportunity, which will only grow as consumers increasingly prefer electronic forms of payment over cash and check. MasterCard MoneySend enables your financial institution to offer convenient, secure, reliable mobile P2P payments to your customers, allowing them to transfer money from person to person using the power of their mobile phone or Internet browser. Completing a transaction is as simple as sending a text message. MasterCard MoneySend gives your cardholders the comfort of knowing that their money can reach recipients in as little as 24 to 48 hours, along with the assurance of instant online notification and MasterCard's Zero Liability policy. Cardholders register once for a MasterCard MoneySend prepaid account, after which they can send payments to people enrolled in the program.
MarketPlace is an innovative, turnkey, merchant-funded program that provides eligible debit, credit, and prepaid cardholders with hundreds of discounted offers from up to 25,000 merchants. Cardholders can reap big savings on items relevant to them, from computers to apparel, and MasterCard continues to evolve the program with innovative features and enhancements. Because the discounts and special offers are provided by participating merchants, there's no infrastructure investment. And MasterCard operates the program, so your financial institution incurs little or no cost to take advantage of MarketPlace. Your cardholders have access to unique offers; you gain greater wallet share.
Online banking has become a necessity for consumersa service they expect their bank to provide. And as more and more of the $3.72 trillion in bills U.S. consumers pay every year3 shift from paper to electronic, your customers will also expect those payments to be reliable, fast, and accurate. MasterCard helps you meet your customers' need for easy, hassle-free, and secure bill paymentwhile boosting retention, wallet share, and profits. MasterCard offers both card-based and EFT bill pay solutions, processes all card types and brands across all industry verticals, and connects to nearly all consumer bill payment originators in the U.S. No other provider offers a more comprehensive solution.
Prepaid accounts are fast catching on with consumers. But to date, reloading prepaid cards has not been easy. MasterCard rePower enables consumers to use an existing credit or debit card to reload or top-up prepaid accounts for cell phone airtime, tollbooth accounts, or store prepaid gift cards. rePower is convenient and secure. Consumers register payment details once on their issuer's rePower website, where they are stored in a secure, password-protected account for consumers to access whenever or wherever they would like to replenish their prepaid accounts. Reload payments can be made via phone (IVR), scheduled automatic reload or recurring payment, Internet, mobile text message, or e-mail. MasterCard rePower can help reduce the overall cost of prepaid airtime reloads to mobile operators and consumers, while capturing additional transaction volume for MasterCard issuing and acquiring banks.
1 19th Annual Retail Technology Study, Supplement, Retail Info Systems News, April 2009. Cited in Contactless Payments: The "Tipping Point" Is at Hand, a First Data White Paper, by Dom Morea, January 2010
2 TowerGroup Research Report February 2009.
3 Aite, 2010.