A while ago we wrote about Swish, that can simplify mobile payments when it is possible for companies in Sweden to get Swish numbers. That complex 3D Secure payments is a bottle neck if you don’t have the bank identifier available when you want to order, is more and more unreasonable when e-commerce on tablets and mobiles increase.
In Dibs report Nordic e-commerce 2014, 39 % says that they have disrupted the order since the site was not optimized for mobiles. The largest reason that the mobile or tablet was used to order, is that they were closest. They are always there.
Mastercard’s digital wallet MasterPass will be launched in Sweden during Q1 2015, you can already submit your interest if you want to take part of the pilot testing. Over 40,000 web stores around the world already use the payment option that can give the mobile commerce the extra push that is needed having the number of tablets and smartphones that are available around Sweden. The 3 million people in Sweden who have mobile Bank ID will be able to join after the introduction in Sweden with just a PIN code.
With just a few Clicks
By a simple click on the MasterPass button in the checkout in a connected web store, mobile Bank ID is started automatically, and you verify by entering your security code. The wallet MasterPass is opened, and the customer needs to confirm the delivery address that is registered by the bank. You can change this address, and you can also register other cards as VISA and American Express in your digital wallet. After that, the customer is sent back to the online store to confirm the order.
Dibs, that takes care of payments for 15,000 Nordic customers, shows how you easily in a few steps can pay with MasterPass.
Some adjustments are needed in the e-commerce platforms, to adjust these in order for the check out to be able to handle discount codes or delivery fees so they are added to the total sum before the customer clicks on the button to pay with MasterPass.
Customer Cards with Loyalty Programs
I like all loyalty programs where it is now enough to show your ID instead of carrying around a lot of different cards in the wallet. The functionality to save loyalty cards in MasterPass exists, it is just for the company to connect its loyalty program to the digital wallet solution.
Benefits for Consumers and Web Store
E-retailers now have the possibility to offer the simple and easy payment option that the customers have asked for. Several abandoned carts that are left because of payment options, can now instead be completed without the customers even having to fill in card information, or delivery address. Everything is already registered with the bank. The cards that the banks have registered are automatically updated when the need to be renewed. The customers don’t need to install an app, it is ready to be used. The financial information for the e-retailers is the same as for an ordinary card payment, no extra payment flow is needed.
Everything points to that conversion will increase for orders on mobile units, I have myself needed to interrupt orders when I have realised that the site demanded 3D Secure verification, and I didn’t have the bank verification with me. I look forward to see e-retailers in Sweden starting to implement MasterPass next year, and will use the payment option as soon as I see the black button.