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Greece's Eurobank adds Masterpass to mobile banking app

Eurobank, one of the leading banks in Greece, recently launched a mobile wallet integrating MasterCard's Masterpass, in an effort to reduce abandonment rates in e-commerce payments, according to a press release.

Eurobank said it has decided to integrate the wallet in its core banking app in order to capitalize on the existing user base and authentication mechanisms, aiming to provide optimum experiences and increase adoption rates.

App users are able to perform their purchases either through the web or in-app, in online shops around the world that co-operate with Masterpass and validate their payments using the same credentials they already use for their core online banking transactions: their fingerprint or four-digit PIN, according to the release.

"To make customers change the way they perform their daily transactions and to foster engagement, we need to design attractive and frictionless experiences, simplifying their everyday lives," Sotiris Sirmakezis, Eurobank's group chief digital and technology officer, said in the release. "Our implementation of Masterpass provides a seamless payment experience to our app users, from any touchpoint they select to make their purchases."