Kiwi Retailers Recognising Benefits of PayPass ‘Tap & Go’

December 13, 2012

Consumer-Led Demand for Contactless Technology Driving Uptake Among Popular New Zealand Retailers

Tweet this: More #NewZealand retailers installing #PayPass terminals as more Kiwis #Tap&Go with #MasterCard http://bit.ly/RqiKrJ

AUCKLAND – December 13, 2012 – MasterCard cardholders are expected to quickly and enthusiastically embrace MasterCard® PayPass™ as some of New Zealand’s most popular retailers install “Tap & Go” terminals in the lead-up to Christmas.

The milestone increase in merchants is a reflection of strong demand from Kiwi consumers for faster and secure ways to make everyday payments.

PayPass is MasterCard’s contactless payment system, specifically aimed at replacing low-value purchases where consumers would usually pay with cash. The technology allows cardholders to simply and securely tap their PayPass-enabled MasterCard against a retailer’s PayPass point-of-sale terminal to authorise purchases for transactions under $80, without the need to enter a PIN or provide a signature. Transactions over $80 can still be tapped, cardholders simply enter a PIN or sign to authorise their purchase.

Organisations including Air New Zealand, ASB, ANZ, BNZ, Kiwibank, Westpac and The Warehouse Financial Services have already recognised the benefits of PayPass and are issuing MasterCard PayPass-enabled cards.

As a result, there are now a growing number of PayPass-enabled MasterCard cards in New Zealand and several thousand merchant terminals where PayPass can be used to pay including Bunnings, Kmart, The Warehouse, Resene, Repco, and BP. Many more Kiwi retail chains are also recognising the benefits of PayPass as a quick and convenient way to pay and will be rolling out PayPass-enabled terminals over the coming months.

MasterCard New Zealand Country Manager, Albert Naffah said: “New Zealanders are typically early adopters of technology. As more retailers install PayPass terminals, consumers here are being quick to “tap-and-go” and make use of this smart, secure and convenient way of paying.

“Using PayPass puts both merchants and cardholders in the fast lane to convenience for the small but important purchases where customers don‟t have the time or desire to stand around waiting.

“We truly believe that contactless is the best way to make and accept payments – it’s quicker and more convenient for consumers, and allows merchants to accept more payments at peak sales times. It helps reduce the delays caused by queuing or searching for change and, with consumers already noticing the benefits, we believe it will be available across a larger number of retailers in the next couple of years.”

“As we head into the busy Christmas shopping period, we expect to see PayPass terminals helping ease those long shopping queues as they are become commonplace at major retailers including The Warehouse, Kmart, BP and Bunnings.”

MasterCard’s contactless terminal technology is paving the way for secure and convenient mobile applications that are increasingly popular – especially with younger consumers. PayPass makes it faster and easier to make purchases online or through a smartphone by allowing consumers to securely pay with a simple tap, and the contactless terminal infrastructure that is being installed within New Zealand is paving the way for other mobile application technology within the payments sector.

“Kiwis had a taste of PayPass during the Rugby World Cup 2011, when PayPass terminals were installed in Eden Park, Westpac Stadium and Forsyth Barr Stadium for ease of transaction during games. We’re seeing consumers increasingly recognise the benefits of contactless payments and using PayPass more frequently as an alternative to cash,” said Mr Naffah.

In Australia, more than one-in-ten card present transactions under $100 are made with PayPass.

“While New Zealand retailers have been slower to adopt the technology than the Australian market, we’re seeing Kiwi consumers pick-up the technology quicker than their Australian counterparts, which in turn will help drive the uptake with retailers,” said Mr Naffah.

A core component of Roadmap is MasterCard’s commitment to continued innovation in the payments industry, with PayPass recognised as the most Innovative Card and Payment Product of the Year in the financial services industry at the 2011 Australian Banking and Finance Awards.

Ends

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About MasterCard PayPass

MasterCard® PayPass™ is MasterCard Worldwide’s “contactless” payment program that provides consumers with a simple and convenient way to pay. Using PayPass, consumers simply tap their payment card, or alternative PayPass device, on a specially equipped merchant terminal, eliminating the need to fumble for cash and coins, hand their card to a clerk or swipe the card through a reader manually. PayPass is ideal for quick payment environments where speed is essential, such as fast food restaurants, petrol stations, pharmacies, sports stadiums and movie theatres.

About MasterCard Worldwide

MasterCard (NYSE: MA), http://www.mastercard.com, is a global payments and technology company. It operates the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardNews, join the discussion on the Cashless Conversations Blog and subscribe for the latest news.

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Acumen Republic
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Acumen Republic
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