Mastercard Launches Platform for Banks and Fintechs to Add Contactless Payments to Their Apps #

Mastercard has launched a platform called Mastercard Wallet Services, a suite of software development kits and supporting infrastructure that lets banks, fintechs, merchants, and digital platforms embed contactless payment capabilities into their existing iOS and Android applications.

Chief Digital Officer Pablo Fourez announced the platform in a blog post on July 15. The toolkit bundles software development kits with a Secure Element applet and connects to Mastercard Digital Enablement Service, the company’s tokenization platform, so developers do not need to manage separate integrations or pursue independent EMVCo certification.

Several Mastercard partner banks are already using the tools to develop new digital wallet features, with some products expected to reach consumers in selected markets before the end of the year.

The platform is available across more than 200 countries and territories where Mastercard Digital Enablement Service operates. Its iOS capabilities are rolling out first in markets where Apple has opened third-party access to near-field communication technology on the iPhone, including the United States, the United Kingdom, and across Europe, following Apple’s 2024 agreement with the European Commission.

Fourez said the platform gives financial institutions and digital platforms a way to layer loyalty rewards, discounts, and other features on top of payment functionality within apps consumers already use. “New digital wallets could provide more choice for consumers, as companies all over the world will be able to offer new benefits, rewards, discounts, points or features to encourage users to start using their wallets,” he said, adding that issuers stand to benefit from stronger engagement with their user base.

Android has long supported multiple competing contactless wallets, but restricted access to Apple’s NFC hardware limited that ecosystem on iOS. Fourez acknowledged that consumer uptake of alternative wallets will not happen overnight, but said expanded platform access could broaden the range of payment experiences available to consumers.

Source: PYMNTS