empowering small businesses through qr accept
Enable micro-merchants on a large scale with QR Accept, facilitating easy onboarding and the ability to accept digital payments through QR codes. These codes can be utilized across various platforms, including social networks, mapping applications like Google Maps, and messaging apps such as Messenger and WhatsApp. The initial pilot for this digital acceptance feature has been launched through Facebook Messenger.
the solution
Masterpass QR (MPQR) is a push payment solution that allows small merchants to easily accept digital payments. This is done by removing traditional barriers associated with electronic payment acceptance (e.g. requiring a standard point of sale device). In doing so, it serves as a seamless and low-cost evolution from “cash only” to digital payments.
An MPQR push payment is a payment transaction that is sent after a consumer-initiated action (i.e. scanning a QR code) from their mobile device.
user goal
All players in the ecosystem benefit from MPQR
Issuers deploy MPQR through their existing mobile banking app. This makes for an easy cardholder onboarding and it helps them strengthen customer relationships and increase revenue.
Acquirers are able to simplify the merchant onboarding process and decrease risk exposure, hence expanding their merchant base and generating new revenue.
Merchants easily become MPQR enabled through acquirers or payment facilitators.
Consumers benefit from a simple non-cash alternative, greater protection and safety, and an easy-to-use payment solution.
It is observed that Acquirer are generally not equipped to go out and onboard micro merchants in numbers. In order to have a wider reach and to accelerate MPQR acceptance, Mastercard wants to introduce a more agile approach for micro merchant onboarding that would leverage Facebook’s relationships with (prospective) merchants.
business goal
Reach out to a larger number of prospective merchants who have access to Facebook Messenger, connect them to the Acquirers who have integrated into this solution, thereby enabling them to accept MPQR payments.
By connecting merchants with our network of acquirers thru an easy-to-onboard solution, we can significantly grow MPQR acceptance and position Mastercard as a strong technology partner and commerce enabler. The increased MPQR acceptance would ultimately result in increased MPQR transactions and GDV.
Mastercard will develop the Chatbot to interact with the Merchant, and will develop the Server to engage with the Acquirers.
product features
We divide the product features into three categories – (i) Merchant related features, (ii) Acquirer related features, and (iii) System related features.
Use Cases
