Consumer Payment Card News

PayPass Expands

The first contactless small business credit card is being introduced next month. Advanta, a business card specialist, and MasterCard have teamed to roll-out the new “PayPass”-enabled “Advanta MasterCard Small Business.” MasterCard reports that at mid-year there were nearly 10 million “PayPass” cards and devices in the market and approximately 32,000 merchant locations worldwide. Advanta says it will also work with MasterCard to identify the merchants that small business owners do business with in order to grow acceptance of contactless payment cards. At the end of the second quarter, Advanta had 978,517 gross business accounts according to CardData (www.carddata.com). Transaction volume for the quarter was $3.0 billion and total outstandings were nearly $4.4 billion. For more information on the “Advanta MasterCard Small Business PayPass” card visit “www.advanta.com”:http://www.advanta.com.

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