Mastercard and Citibank India launches MasterPass - a digital wallet

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Citibank India and MasterCard have launched digital wallet Citi MasterPass for both debit and credit card customers to be able to shop online at over 250,000 e-commerce merchants.

The global digital wallet “safely stores Citibank customers'’ card and shipping information all in one place with MasterCard.

By selecting 'Buy with MasterPass' as the payment option at checkout, customers can eliminate the need to fill in details repeatedly across online merchants. This reduces the risk of customers abandoning their shopping carts due to cumbersome payment processes or exposing their personal information over potentially unsafe networks,” the bank said in statement.

Today, around 41 per cent of all Citibank card transactions in India are performed online and Citi MasterPass will be available at over 100 online merchants in India. India’s e-commerce industry is expected to cross Rs 1.08 lakh crore ($17.2 billion) at the end of 2015.

MasterPass is present across 24 countries worldwide and is available to over 40 million consumers in Asia-Pacific alone. India is the first market in Asia Pacific where Citibank card customers will be offered the co-branded MasterPass solution.