Consumer Payment Card News

PayPass Milestone

MasterCard reports that 10 million “PayPass” contactless cards and devices have been issued worldwide and that 32,000 merchant locations are now accepting “PayPass” globally. MasterCard says its data reveal that consumers use their payment cards more frequently once those cards become “PayPass”-enabled, approximately 18% more often on average. Internal MasterCard data show the average “PayPass” transaction, credit or debit, is approximately $20. Roughly 75% of all “PayPass” transactions were for purchases below $25 and approximately 45% of all “PayPass” transactions were for purchases below $10. MasterCard also released data that show over the past year “PayPass” has provided: a 36% increase in usage per account; a 45% increase in total transactions per account; a 230% increase in usage at “PayPass” merchants; and a 270% increase in the number of transactions at “PayPass” merchants. For more information visit “www.paypass.com”:http://www.paypass.com.

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