Mastercard has introduced One Credential, a versatile digital payment tool that allows consumers and businesses to choose from a variety of scheduled payment options, including debit, installments, prepaid, and credit.
Personalized Payment Control
One Credential offers a tailored payment experience, enabling users to:
- Set spending preferences: Allocate daily expenses under $100 (e.g., groceries, fuel) to a debit account.
- Manage larger purchases: Charge expenses over $100 to credit or use installment plans for significant buys.
- Seamlessly switch payment methods: Make adjustments online or through an app, ensuring complete control over transaction funding and a comprehensive view of spending habits.
Jorn Lambert, Chief Product Officer at Mastercard, stated:
“Today’s consumers expect to be in the driver’s seat. That’s what sparked One Credential. It gives people an innovative way to pay that’s truly personalized to them. While Gen Z may be leading the way, the desire for personalization spans generations.”
Strategic Partnerships
Mastercard has partnered with several financial institutions and payment platforms, including:
- Bendigo and Adelaide Bank
- Wio Bank
- Marqeta
- Episode Six
- Galileo
- i2c
- Lithic
Small Business Offering
The One Credential rollout will also include small businesses, providing them with enhanced control over payment methods and financial management.
Prateek Vahie, Chief Commercial Officer at Wio Bank, commented:
“Being first to market with Mastercard’s One Credential allows us to deliver exactly what our digitally native customers demand—complete payment flexibility and control at their fingertips. We’re transforming how customers manage their finances by delivering what matters most: choice, control, and simplicity in every transaction.”
