NEW YORK — What if you could instantly purchase a product advertised on an iPad app — or, even better, what if you could do the same thing for a product featured in a movie as you’re watching it? That’s a feature MasterCard is promising for future versions of its PayPass mobile wallet, and from what I’ve seen, it could truly change the way we shop.
MasterCard showed off all of its new payment innovations at a press and investor gathering in New York City yesterday, and it was filled with the usual sights: NFC-based payment systems (an evolution of MasterCard’s current PayPass touch-and-pay system), and examples of how MasterCard is helping to simplify payments across the globe.
But what caught my interest the most was the company’s mobile wallet vision. I chatted with Kim Purcell, vice president of innovation at MasterCard Labs (where the company develops all sorts of cool new ideas), who gave me a brief rundown of what the company is up to after first announcing its mobile wallet back in May.
As you can see in the video below, MasterCard’s wallet will allow you to pay for items from just about any app or video. While clearly still in its early stages, the PayPass mobile wallet could let you purchase items for a magazine seamlessly, or have memorabilia delivered to your seat as you’re attending a baseball game.
Purcell also showed how you can browse products for sale while watching a movie on your television (something that will be great for parents, but annoying to cinephiles) using an in-house app named “Screen Two.” The same app also lets you throw products onto the TV screen to discuss with your friends and family (that part couldn’t be shown on video).
MasterCard is somewhat late to the mobile wallet game, but it’s been making strides towards new payment mechanisms, like SpeedPass for touch-and-pay capabilities, for years now. From what I saw yesterday, the credit card company has some interesting innovations beyond its mobile wallet competitors, which includes Google, Visa, and PayPal. But it’s still unclear when these innovations will reach consumers, and if they’ll actually take to it.