MasterCard (MA) is expanding its Masterpass digital payment system, partnering with numerous banks and retailers to give consumers the ability to use the service for in-store purchases. The enhanced service will be rolled out over the next few weeks. Garry Lyons, chief innovation officer at MasterCard, said the improvements to Masterpass will change the face of digital payments. Lyons demonstrated for TheStreetTV how Masterpass can be used to buy tickets on JetBlue, or purchase soda from a vending machine. Masterpass will compete with other mobile pay services, such as Apple Pay (AAPL) .
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