Mastercard to facilitate digital card payments in North America

Mastercard expands its Digital First Card Program

Mastercard CBDC

Mastercard to facilitate digital card payments in North America. Source: shutterstock.com

Mastercard announced the expansion of its Digital First Card Program in North America.

The card giant is partnering with payment processors including CoreCard, FIS, Fiserv, Galileo, i2c, Marqeta, PTS, and TSYS, a Global Payments Company.

Together with Mastercard, these players will work with issuing banks to ensure the foundational requirements of the Digital First Card Program are met, which has been built to deliver an optimal and secure consumer experience by focusing on four key areas:

  • Online Application: enables consumers to apply online and receive card information almost immediately upon issuer approval.
  • Near-Instant Issuance: gives cardholders access to their card information almost immediately to begin making purchases online, in-app, and at the point of sale through digital wallet offerings.
  • Quick Access to Card Details: offers quick access to card information, including the 16-digit PAN, CVC2, expiration date, and customer service information via the digital environment, eliminating the need for it to be displayed on the physical card.
  • Simple and Easy Management: allows cardholders to manage their payment credentials digitally, including access to transaction history and balance information, alerts, and access to card benefits.
The future of banking is digitally motivated. Consumers are increasingly considering how they can use the branch as an extension of digital, rather than digital as an extension of the branch
Krista Tedder, Head of Payments, Javelin Strategy & Research

SEE ALSO: