Mastercard has introduced a new Consumer Control solution, which enables customers to know where their card credentials are stored across all digital channels.
Mastercard Consumer Control allows the issuers to deliver a bank-branded, all-digital payment solution to provide complete view of digital payment transactions of the customers.
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The solution will allow cardholders to add card details to preferred shopping sites and payment devices, and optimize spend across the digital ecosystem.
Furthermore, the card giant will also partner with token service providers, merchants and device manufacturers such as Fitbit, Fitpay and Garmin to improve consumer experience while delivering a simplified solution across card on file and IoT devices.
Mastercard digital payments and labs executive vice president Jessica Turner said: “As digital payments continue to evolve, cardholders have more and more options to enable new types of devices for payment, and to pay in new ways online and in-app.
“In our ongoing commitment to deliver consumer-centric solutions, Mastercard is introducing a series of APIs that will give the consumer direct control to view where their card is stored and manage spend across all digital channels – all from right within their mobile banking app or website.”
According to Mastercard study, 73% of Americans are interested in digital management of credit/debit card information, and they want it from their bank or credit union.
