“Plastic cards will also co-exist. In the developed world, we have a lot of
ATMs and point of sale machines, as well as parking meters and vending
machines, which take plastic; our infrastructure is very well developed
to work with a card.
“In some of the developing markets, they don’t have that infrastructure,
and that’s why you see African countries effectively leapfrogging and
going directly to mobile payments. People are going to want to
simultaneously have the same experience, whether they’re buying online,
through their telephone or in a mall; they just want something that is
going to work for them.
“We are effectively designing a one-click checkout, something that has
exactly the same consumer experience. When we buy a product, we
want the payment to happen seamlessly, safely in the background and
in a way that is chosen. I want a good buying experience and a choice.”
To realise new technology, MasterCard is playing its role in open
innovation, collaborating with other companies and opening up its
application program interfaces (API) to help realise new app developments.
“We are trying to build a common experience across the world and
ensure interoperability,” Cairns told Portal. “Europe is a place where if
the right decisions are made, you allow innovation to flourish and enable
effective cross-border shopping. This is a good move and is what
consumers will expect in the future.
“In our labs in Dublin, we incubate and work with start-ups through
partnership agreements; we also buy companies and undertake capital
investment. If the companies we work with can get access to Horizon
2020 funding in addition to working with us, we are very happy to be
part of that ecosystem that encourages more innovation, because one
company cannot do it alone.
I S S U E S E V E N
H O R I Z O N 2 0 2 0 P R O J E C T S : P O R TA Lwww.horizon2020projects.com
B R OW S Ewww.mastercard.com/corporate/ourco mpany/ www.ebsummit.eu
H O R I Z O N
2 0 2 0
D I G I TA L E C O N O M Y
“Working in collaboration with lots of different
partners, the pace of our growth is very fast.
We will have to buy as well as build, and many
of the good ideas can come from smaller
companies. We are opening up our
infrastructure through open APIs. If you
consider development on the internet, people
are looking for zero-cost models, and we are
giving them that platform.
“We are holding ‘hackathons’ across the
world to encourage the development
community, and we believe this is the way
forward in this space. Once you start getting
your name and your message out there, there
is quite a lot of enthusiasm.”
MasterCard is clearly leading the way in
regards to moving to contactless and mobile
payment technology, recognising the methods
that will encourage consumers and businesses
to increase its uptake. Yet the multinational is
also identifying the wishes of local consumers
as to how, when and at what speed these new
processes should be implemented.
In addition, the company is working with
tomorrow’s digital and app innovators to realise
the next technological breakthroughs. By
incubating and working with start-ups in
Europe, as well as opening up APIs, MasterCard
has the potential to help the continent respond
to international competition.
If Horizon 2020 is to help the EU maintain an
innovative edge in tomorrow’s payment
technology, the European Commission needs
to ensure that adequate and targeted funding
is made available to projects supporting this
breakthrough. Such efforts will ensure that
consumers really do tap into the benefits of the
multibillion R&I framework programme.
Despite the growth in
Cairns said cash is still
likely to remain in the
pockets of consumers
for many years