MasterCard's MasterPass Digital Wallet Hits the UK

MasterCard is launching its MasterPass service in the United Kingdom. MasterCard's digital wallet service isn't available anywhere else in Europe, which means the UK will be the first to try it out. The free service allows you to store all of your payment, shipping and loyalty information in one place. This means you can check out via MasterPass and you don't have to fumble about with different cards or accounts. When shopping online, customers simply click the MasterPass button and authenticate with a password to checkout.

"For retailers, MasterPass provides a faster, easier way to check out their customers and increase sales without significantly changing the way they currently process payments," MasterCard's Marion King said in a statement, adding that "MasterPass can help retailers reduce checkout abandonment rates."

Retailers currently accepting MasterPass payments include Boots UK, Argos, House of Fraser, The Hut Group,, and MBNA. The service is already live in the United States, Canada, and Australia. MasterCard is planning additional launches across Europe as well as in Latin America, Asia and the Middle East throughout the rest of 2013 and into 2014. Visa's digital wallet service is scheduled for a nationwide roll-out later this year, and an initial trial is currently underway with RBS.