After introducing Walmart Pay at the end of 2015, Walmart is taking additional steps toward streamlining online payments with MasterPass by MasterCard. This digital platform will be available to online and mobile Walmart shoppers some time in 2016.
MasterPass will allow Walmart shoppers to bypass checkout forms and make secure purchases with one click. Consumers can set up an account for free and access it on any desktop or mobile device, including Android and iOS. The platform will store payment and shipping information securely, giving shoppers the option to check out using the “Buy with MasterPass” button.
Online and mobile payments are rapidly gaining momentum. Walmart isn’t the only retailer branching out into easier forms of online payments. Retailers including Neiman Marcus, Bass Pro Shops and J. Crew are just a few of the 250,000 merchants using MasterPass in their checkouts globally.
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“We have enjoyed a longstanding business relationship with Walmart and are pleased to expand this into the online and mobile channels through MasterPass,” said Michael Cyr, Group Executive, U.S. Market Development, MasterCard in a statement. “With MasterPass, consumers can go online, place their order and pay with just a click. The burden of entering delivery and billing information is eliminated, further enhancing the Walmart online customer experience.”
While MasterPass seems to be a smart move for Walmart, there are potential drawbacks to the platform. Consumers might assume that only MasterCard cardholders can use MasterPass, but the platform can be used with credit, debit and check cards from MasterCard, Maestro and Visa.
