Oracle and MasterCard have announced a global partnership at Mobile World Congress, with the tie-up set to see the two companies deliver a streamlined digital payment experience to the retail and hospitality industries.
The Oracle, MarsterCard tie-up will focus on three core areas, with the first being in-store experiences. In this first area the two companies aim to develop and scale enhanced in-store payment experiences including Qkr! with Masterpass. Masterpass is a mobile app that lets customers dodge the queue to order and pay for goods via their smart phone. The app aims to make transactions simple and remove as much hassle as possible for the customer.
The two giants of tech and payments are also targeting operational efficiencies in the partnership, offering retailers MasterCard Payment Gateway Services as a fully-integrated digital payment and fraud prevention platform. This platform offers a better alternative to the development and implementation of separate payment solutions for in-store and online operations.
The Oracle, MasterCard partnership looks to extend their partner portfolio, one which
already includes the likes of wagamama, Carluccio’s, Young & Co.s Brewery and Geronimo Pubs. These restaurants are already using Qkr to let their customers order additional items during meals, pay at the table when they are ready and split the bill with others.
MasterCard has big plans for Qkr, with the payments giant aiming to extend the platform to six additional markets in 2017.
Commenting on the announcement, Chris Fendley, SVP Merchant Development, MasterCard, said: “With close to 80 percent of consumers using technology at some point along their shopping journey, MasterCard is committed to unlocking omni-channel commerce for every device and delivering convenient experiences to users at-home, in-stores and on-the-go. Building on the success of our joint initiatives with Oracle in the UK, we can help retailers and hospitality providers connect with their customers in more engaging ways while enabling them to grow their businesses with scale, speed and security.”