Integration of Masterpass
On April 9, 2018, Mastercard (MA) made an announcement regarding the integration of its Masterpass service with the My Phillips 66 app. With the help of this integration, Phillips 66 customers will be able to execute transactions easily and safely via the My Phillips 66 app.
Masterpass saves the information that’s required for the execution of transactions, such as shipping information and card information.
This move could help Mastercard witness a rise in its number of transactions. Thus, the company could experience an uptrend in its revenue. In 4Q17, the company’s total purchase volumes (including in the United States) amounted to $1.0 trillion, a rise year-over-year as well as sequentially.
Mastercard’s management has a favorable view on the partnership, stating that the integration should improve the traveling experience of its users. After the integration is done, the company plans to improve security as well as speed, which will be beneficial for users. The integration will also expand the reach of Masterpass in the United States.
According to the management of Phillips 66, the integration will offer more options for making payments while transacting.
Among Mastercard’s competitors (XLF), Discover Financial Services (DFS) has improved its app homepage in order to improve the consumer experience. American Express (AXP) recently acquired Mezi, which will help users witness improved services. Visa (V) has also expanded its Ready for Transit program.
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