KeyBank has expanded its mobile payments capabilities with Masterpass by Mastercard in response to steadily growing client mobile payment use.
Jason Rudman, KeyBank
Jason Rudman, director of KeyBank Consumer Payments and Digital Banking, said:
We know our clients want to be able to choose the banking product that best fits their individual need, and mobile payments is no exception. Whether clients prefer to pay via tap, dip or swipe, we want to be our clients’ primary payment provider as they determine how they want to make payments. We are excited to offer Masterpass to our clients.”
KeyBank’s partnership with Mastercard means KeyBank clients will have access to fast, simple and secure digital payments across devices and anywhere they want to shop—online, in app and now in-store.
Masterpass simplifies the checkout experience across a wide array of retailers. With Masterpass, clients can check out online or in-app by clicking the Masterpass button and authenticating to complete the transaction. They can make in-store payments simply by tapping at contactless-enabled merchants.
Masterpass stores all payment information, including card details from both Mastercard and other payment networks, shipping information, and payment preferences in one convenient, secure place. It leverages the most advanced methods of payment security available today, including tokenization, which ensures information is protected.
KeyBank clients are making more use of mobile payments than ever before. Year over year, KeyBank has seen double digit growth in client mobile payments. On average, KeyBank clients are signing on and making transactions with their mobile devices three times as frequently as they had done over the past 18 months.
Matthew D. Lehman, head of KeyBank Online and Mobile Banking, commented:
We’re tapping partnerships across the industry to provide our clients with innovative, safe and secure mobile payments options. KeyBank will continue to bring our clients the best mobile payment options as mobile payments innovate and evolve.”