MasterCard PayPass Gaining Acceptance with Users and Merchants

The MasterCard® PayPass™ contactless payment solution continues to provide consumers with a faster and more convenient way to pay for their small ticket purchases. To date, approximately seven million PayPass cards and devices have been issued to consumers and PayPass is now accepted at approximately 30,000 merchant locations around the world.

There are a number of PayPass-related programs currently underway in ten countries around the world. PayPass rollouts and trials have been announced in the United States, Canada, United Kingdom, Japan, Korea, Lebanon, Malaysia, Australia, Taiwan, and the Philippines, with many more programs and rollouts anticipated throughout 2006. In recognition of its success in leading the contactless payment market with its innovative PayPass program, MasterCard was recently awarded Frost & Sullivan’s “2006 Market Penetration Leadership Award.”

PayPass offers consumers a convenient alternative to cash that allows for small ticket purchases to be completed quickly, securely and easily. Consumers no longer need to fumble for cash and coins, swipe a card, or sign a receipt for any PayPass purchase under $25 (purchases over $25 will require a signature and a receipt). Users simply tap their PayPass-enabled card or device on the PayPass reader at participating merchants and they are on their way.