C-SAM Launches Digital Wallet Solution Powered By MasterPass For Financial Institutions And Processors

C-SAM, a pioneer in secure mobile transactions technology offering a range of mobile-based applications for financial institutions, retailers and mobile network operators that incorporate near field communication (NFC), quick response (QR), online, remote, coupons, and more, today announced the launch of a digital wallet solution compatible with MasterPass™ by MasterCard®. The new solution, available in all MasterPass-enabled markets, will enable financial institutions and processors to build their own wallet offering and deliver a seamless checkout experience for consumers shopping at MasterPass-enabled merchants.

C-SAM developed the solution for financial institutions and processors looking to retain control over the consumer experience, technology and data. Pre-integrated with the MasterPass APIs and based on C-SAM’s flexible Mobile Transaction Platform (MTP), the solution offers various options for customization and provides capabilities that can be integrated with existing banking and commerce applications.

“Consumers are embracing a digital lifestyle and, to meet this shift, the shopping and payment experiences needed to evolve. We are excited to see a key strategic partner like C-SAM launch a compelling wallet solution that leverages the benefits of MasterPass,” said Vibhav Prasad, Senior Vice President and Group Head, MasterPass, MasterCard. “This solution empowers financial institutions and processors to build their own wallet offering – a core element of the MasterPass value proposition – and deliver a richer, deeper, customized end user experience.”

MasterPass eliminates the need for consumers to enter detailed shipping and card information to complete their online shopping at MasterPass merchant sites. Consumers can securely store MasterCard and other branded credit, debit and prepaid card information, address books and more. This simplifies the process of completing a transaction from any connected device, particularly those with smaller screens. To complete their online shopping, consumers simply use the “Buy with MasterPass” button on the checkout page of the merchant website.

“Our digital wallet solution powered by MasterPass considerably enhances the shopping experience for consumers using PCs, tablets or smartphones, and gives our customers a ready-to-deploy solution paired with the capability to enable their own services,” said Felix Marx, chief executive officer for C-SAM. “We look forward to continuing to work with MasterCard and their partners to offer attractive end-to-end solutions globally.”

About C-SAM

C-SAM, Inc. is a pioneer in secure mobile transactions technology. The company provides turnkey services to carriers, banks, merchants, settlement networks, healthcare providers, and large infrastructure providers. C-SAM has launched commercial services in the US, Japan, Vietnam, India, Singapore, and Mexico. For more information, visit www.c-sam.com or follow us on Twitter at @c_sam_inc.

About MasterCard

MasterCard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardNews , join the discussion on the Cashless Pioneers Blog and subscribe for the latest news on the Engagement Bureau.

Copyright Business Wire 2010

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