MasterPass Extends Retail Reach to Saks and Poshmark

MasterCard said on Monday (May 9) that its MasterPass digital payments platform is now being accepted by luxury retailer Saks Fifth Avenue, and also Poshmark, a social commerce marketplace geared toward fashion. The announcement underscores the further expansion of MasterCard into fashion and higher end retail, according to the card giant.

As noted in a Monday press release by MasterCard, MasterPass will also find a berth later this year through NAB Velocity, the omnichannel payments platform that is offered by North American Bancard.

The MasterPass digital payments platform can be used across any device for mobile payments, and utilizes a “Buy with MasterPass” button that logs into consumer accounts.

Michael Cyr, who serves as a group executive of US Market Development with MasterCard, noted that “MasterPass continues to gain acceptance momentum across merchants in all categories, whether through direct relationships like we have with Saks Fifth Avenue, or through key partners like NAB Velocity. With increased acceptance of MasterPass, more consumers can go online, place their order and pay with just a couple of clicks. The burden of entering delivery and billing information is eliminated, further enhancing the shopping experience.”

Separately, Dion Rooney, executive vice president of HBC Digital, noted that “The Saks Fifth Avenue customer experience is extremely important to us, whether in our stores or online. MasterPass is an integral component of providing our customers with seamless and secure shopping at Saks.com.”

MasterPass, which was launched three years ago, can be used in 29 countries across 270,000 merchants across the globe.