Mastercard Inc (MA) acquires C-SAM
Mastercard Inc (NYSE:MA) has announced that they have acquired C-SAM. The company also disclosed plans to support an in-app payments platform through their virtual online wallet payment system called MasterPass. MasterPass will allow users to store payment, store card, loyalty, shipping, and billing address details in one place. The service used to be only browser-based in the past, but now MasterCard will integrate it into mobile apps. The service will be available to developers and merchants in Q2 of this year.
Mastercard’s app users will be able to complete purchases without having to leave the app at all. This way you can avoid storing payment credit card credentials across various mobile apps.
The first in-payment Mastercard partners include MLB Advanced Media, Starbucks Australia, Forbes Digital Commerce, Fat Zebra, NoQ, and Shaw Theatres Singapore.
“Consumers today are living digital lifestyles, shopping in new ways using a range of new products and devices. Bringing C-SAM’s mobile expertise into MasterCard will help us launch a wider range of mobile and virtual solutions better and faster — bringing convenience and choice to consumers, while adding value to our expanding partnerships with telcos, governments and merchants,” stated MasterCard Chief Emerging Payments Officer Ed McLaughlin.
Mastercard announced the C-SAM acquisition at Mobile World Congress in Barcelona today. C-SAM is a mobile and digital wallet services provider. The terms of the deal were undisclosed. The C-SAM back-end infrastructure will help push the MasterPass service.