PayPass continues to speed cardholders through the check-out process and
improves convenience by raising the purchase transaction limit.
TORONTO, May 2 /CNW/ - MasterCard(R) PayPass(TM), the contactless payment
technology that provides consumers with a fast, secure and convenient
alternative to cash for their everyday purchases, has increased its purchase
threshold limit for Tap & Go(TM) purchases to $50 across all retail
categories, including quick serve restaurants, grocery stores, gas stations,
movie theatres and convenience stores.
According to a 2007 MasterCard Canada survey, nearly nine in ten
respondents (88%) are very interested in a payment method that would cut the
time it takes to complete transactions.
"In 2008, we will be continuing our expansion of MasterCard PayPass in
Canada. The increased purchase limits announced today, and further market
introductions will help to deliver the benefits of PayPass to more Canadians,"
said William Giles, Vice President, Acceptance and Merchant Development,
MasterCard Canada. "Over the next two years, we will also increase card
availability by adding the PayPass feature on the majority of cards provided
by MasterCard issuers."
With PayPass, MasterCard cardholders authorize their transactions
securely via radio frequency (RF) by "tapping" their cards against a PayPass
enabled point-of-sale payment terminal. Receipts are always available, and if
a cardholder does not receive a receipt, they can simply ask and a receipt
will be provided. Signatures are not required for purchases under $50, further
speeding customers' transactions. Purchases over $50 will still require a
receipt signature.
"PayPass truly puts the cardholder in control," added Giles. "Your card
never leaves your hand when making a payment, a monthly statement keeps track
of spending, and purchases are protected by Zero Liability."
Cardholders enjoy all the same protections from fraud with PayPass as
they would with conventional MasterCard payments. PayPass is supported by
robust, multi-level security protections including the encryption of PayPass
RF transaction transmission and the multiple security benefits of the
MasterCard payment system.
MasterCard PayPass
MasterCard PayPass uses radio frequency technology to securely transmit
payment details wirelessly between the PayPass device and the merchant's
terminal. The transaction is then processed through the MasterCard network for
clearing and settlement. PayPass cards can also be used in the traditional
manner anywhere MasterCard is accepted.
About PayPass
PayPass continues to gain strong momentum worldwide. As of Q1 2008, there
are more than 28 million MasterCard PayPass cards and devices in use at more
than 109,000 merchants worldwide. There are a number of PayPass trials and
rollouts currently underway in 24 countries, including Australia, Canada,
China, the Czech Republic, France, Germany, Indonesia, Italy, Japan, Korea,
Lebanon, Malaysia, Mexico, Mongolia, the Philippines, Poland, Spain,
Switzerland, Taiwan, Thailand, Turkey, the United Arab Emirates, the United
Kingdom and the United States.
Canadians can currently use PayPass at Rabba Fine Foods, Cineplex Odeon,
Tim Hortons, Petro-Canada, Pioneer Petroleums, Loblaw Companies stores across
Canada, and beginning later this year, McDonald's Restaurants will also be
introducing PayPass.
About MasterCard Worldwide
MasterCard Worldwide advances global commerce by providing a critical
economic link among financial institutions, businesses, cardholders and
merchants worldwide. As a franchisor, processor and advisor, MasterCard
develops and markets payment solutions, processes over 18 billion transactions
each year, and provides industry-leading analysis and consulting services to
financial institution customers and merchants. Through its family of brands,
including MasterCard(R), Maestro(R) and Cirrus(R), MasterCard serves consumers
and businesses in more than 210 countries and territories. For more
information go to www.mastercard.com.
About the survey:
The MasterCard survey was conducted online within Canada from
December 11, 2007 through January 4, 2008 using GMI's consumer panels among
2,027 adults (aged 18 and over). Figures for age, gender and geographical
region were balanced in the outgoing survey sample taking into consideration
response rates, completion rates and incidence rates to create a
representative sample.
For further information: MasterCard Canada, Julie Wilson, Director,
Public Affairs, (416) 365-5594, Julie_Wilson@mastercard.com
