Consumer Payment Card News

PayPass

827 0

MasterCard has topped 50 million “PayPass” cards or devices, as of the end of 2008. Currently, the top merchants that have received a visit from a new customer because of their “PayPass” acceptance include quick-service restaurants (20%), pharmacies (17%), and supermarkets (13%). However, consumers who are aware that their card has contactless functionality are interested in using that feature at a wider range of merchants including department stores (61%), home improvement outlets (46%), movie theaters (42%), bookstores (41%), and sports venues (37%). Consumers also expressed interest in using alternative “PayPass” form factors including tags (42%), key fobs (41%), and mobile phones (33%). A recent survey found that 77% of consumers that have a “PayPass”enabled card or device use it as their primary form of payment, which demonstrates its ability to bolster relationships for financial institutions with cardholders. For more information visit: http://www.paypass.com

Leave A Reply