Saks ensures seamless ecommerce with payment solution integration

Image courtesy of Saks Fifth Avenue

Department store chain Saks Fifth Avenue is making transactions safer and more streamlined for its consumers with a new payment solutions partner.

Saks is just one of of the many brands to embrace MasterCard’s MasterPass digital payments platform to simplify and safeguard the ecommerce checkout process. With the luxury online retail market expected to reach $41.8 billion by 2019 (see story), brands will need to work with financial service providers to ensure consumers’ data stays safe while shopping online.

Protected payments
Developed by MasterCard, MasterPass offers retailers with an ecommerce presence a simple, convenient and trusted digital platform. With MasterPass, consumers are able to pay for goods online or mobile using whichever device they prefer.

MasterCard launched MasterPass in 2013. The platform is currently available in 29 countries and accepted by 270,000 merchants.

The purchase process is simplified, as MasterPass securely stores consumers’ payment and shipping information. Instead of the hassle of re-entering information for each transaction, the consumer simply clicks the “buy with MasterPass” button and logs into her account.

Saks Fifth Avenue consumers 

In a statement, Dion Rooney, executive vice president of Hudson’s Bay Company, the parent company of Saks Fifth Avenue said, “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.”

As with the retail sector, the functionality of luxury brand watches and wearables, including those by Hublot and Bulgari, are set to increase with the introduction of contactless payment.

Announced at Mobile World Congress in Barcelona Feb. 22, MasterCard and WISeKey have partnered to offer wearers of specific luxury watches and wearables a payment solution that allows consumers to shop securely. Payment protection is an important issue for brands, regardless of sector, to consider, especially if its core consumers are affluent (see story).

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