Bank of the West to Use Masterpass

A digital payment solution that captures customer-entered payment information, loyalty programs, shipping information, and payment preferences in one convenient and easy to use digital wallet

Bank of the West,  a leading regional financial services company, announced today its customers will have access to fast, simple and secure digital payments across devices and anywhere they want to shop—online, in-app and now in-store—with Masterpass by Mastercard. The global digital payment service from Mastercard that connects consumers with merchants will be available for Bank of the West customers later this year.

As part of the Bank of the West’s continued focus on enhancing its digital offerings for customers, the bank is partnering with Mastercard to provide a new mobile wallet solution for its customers.

From purchasing a train ticket, to splitting the check and paying right at a restaurant table, to buying groceries with the tap of a phone, Masterpass will help simplify the checkout experience across a wide array of retailers. With Masterpass, customers will also be able to check-out of their online or in-app shopping site by clicking the Masterpass button and authenticating to complete the transaction. In-store, customers will simply need to touch the “tap to pay” reader at contactless-enabled merchants to complete a payment transaction.

We are entering an exciting time for our customers with respect to payment solutions,” said Paul Appleton, executive vice president, consumer banking product and payment solutions, Bank of the West. “The forthcoming mobile wallet rollout is an example of our deliberate approach in developing digital payment experiences that will allow our customers to make shopping easier and to make purchases in the way they choose.”

Masterpass will store all of the information entered by customers including payment information, card details from Mastercard and other payment networks, shipping information, loyalty program numbers, and payment preferences in one convenient, secure place – giving customers choice to shop across digital devices and channels. The online and mobile Masterpass service will incorporate the most advanced methods of payment security available, including tokenization, which ensures information is protected.

Masterpass is currently available in 32 markets globally, with plans to expand to three more by the end of the year. The Masterpass vision is to support all forms of commerce in order to address the widest range of merchant experiences and consumer needs. A list of Masterpass online and in-app accepting merchants is available at www.masterpass.com and a list of in-store enabled merchants can be found here.

Author: Dylan Jones

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