Collaboration aims to bring unified payments to the retail and hospitality industries
Oracle and Mastercard announced a global strategic partnership to bring enhanced digital interactions across the retail and hospitality industry. The new partnership brings together Oracle's software platforms and technologies with Mastercard's digital payment solutions, such as Masterpass, to create unified and secure consumer experiences for businesses of any size and drive operational efficiencies in payment processing for partner customers.
Initially, Oracle and Mastercard will focus on three key areas of innovation with an emphasis on restaurants, hotels and retailers:
• Oracle and Mastercard will work together to develop and scale incredible in-store payment experiences, including Qkr! with Masterpass. It is a mobile application that allows consumers to order and pay for goods and services simply using a cell phone, without having to wait in lines or be served by a waiter. This integration will make transactions simpler, more convenient and secure, in addition to eliminating friction for the customer.
• Partnership to create payment acceptance solutions that facilitate and accelerate multi-channel commerce in merchants around the world. Providing fully integrated digital payment and fraud prevention functionality to Oracle customers through Mastercard's global Payment Gateway Services.
• Integration of Masterpass with Oracle's products and solutions to bring cutting-edge digital payment applications that incorporate loyalty and rewards programs in one place, ensuring easy access when paying.
“With digital technology transforming consumer expectations, Mastercard is committed to advancing multi-channel commerce to all devices and bringing convenient user experiences at home, in physical stores, and even on the street,” said Catharina Eklof, vice vice president. Mastercard's senior president of merchant development. "Together with Oracle, we can help the retail and hospitality industries connect with their customers in more engaging ways so they can grow their businesses with scale, agility and security."
Initially, Oracle and Mastercard will focus on three key areas of innovation with an emphasis on restaurants, hotels and retailers:
• Oracle and Mastercard will work together to develop and scale incredible in-store payment experiences, including Qkr! with Masterpass. It is a mobile application that allows consumers to order and pay for goods and services simply using a cell phone, without having to wait in lines or be served by a waiter. This integration will make transactions simpler, more convenient and secure, in addition to eliminating friction for the customer.
• Partnership to create payment acceptance solutions that facilitate and accelerate multi-channel commerce in merchants around the world. Providing fully integrated digital payment and fraud prevention functionality to Oracle customers through Mastercard's global Payment Gateway Services.
• Integration of Masterpass with Oracle's products and solutions to bring cutting-edge digital payment applications that incorporate loyalty and rewards programs in one place, ensuring easy access when paying.
“With digital technology transforming consumer expectations, Mastercard is committed to advancing multi-channel commerce to all devices and bringing convenient user experiences at home, in physical stores, and even on the street,” said Catharina Eklof, vice vice president. Mastercard's senior president of merchant development. "Together with Oracle, we can help the retail and hospitality industries connect with their customers in more engaging ways so they can grow their businesses with scale, agility and security."
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