TORONTO, Nov. 7, 2013 –MasterCard today announced it has signed a strategic agreement with Rogers Communications to support mobile payment innovation, including the RogersTM Prepaid MasterCard® available inside the newly launched Rogers suretap(TM) wallet operating on MasterCard’s payment network. The suretap(TM) wallet allows customers to simply tap their phone to pay at the tens of thousands of retailers across Canada currently accepting contactless card payments.
“MasterCard has laid the groundwork for mobile payments in Canada thanks to our market-leading contactless payment footprint. This is another step forward in driving mobile payment adoption,” said Betty DeVita, President, MasterCard Canada. “As a technology company, enabling mobile payments is a priority as we know consumers are using their smartphones as commerce devices. Paying securely from a smartphone puts time back in the hands of consumers, and adds value to a seamless checkout experience for both shoppers and retailers.”
Since it was introduced in 2006, MasterCard’s contactless acceptance footprint has expanded to include 72 per cent of Canada’s top retailers and has enabled Canadians to tap their cards more than 330 million times to pay securely. Canadians will use that same Tap & Go technology to pay with their smartphones. Contactless cards and mobile payments use Near Field Communication (NFC). A chip embedded inside a card or smartphone wirelessly transmits a signal to the payment kiosk at checkout. When tapped, the transaction is processed. By ensuring merchants across Canada can accept Tap & GoTM payments from cards, MasterCard is readying those same merchants for mobile payments.
The possibilities of mobile payments include:
— Faster checkout for consumers and merchants
— No transaction value limit – just use your pin to purchase over the tap threshold
— Store coupons and loyalty programs all in one place
— Reduce the number of cards in your wallet by storing them in your phone
— Leave your wallet at home and travel lightly
— Guaranteed secure payment via MasterCard’s Zero Liability policy
Canada was ranked second on MasterCard’s Mobile Payment Readiness Index, a data-driven quantitative survey of the global mobile payments landscape. The survey, completed in 2012, gauged the readiness for mobile payments of 34 global markets, representing approximately 85 percent of the world’s household consumption expenditure. Canada demonstrates high consumer readiness and confidence in mobile payments, an advanced POS infrastructure and a proactive government. Read more about Canada’s Readiness factors here.
“We are thrilled to work with MasterCard to bring the contactless payment experience Canadians know today to their smartphone,” said David Robinson, Vice-President of Emerging Business, Rogers. “Canadians are looking for a simple and secure way to pay, and together with MasterCard we will deliver innovative solutions that give our customers this option on a mobile device.”
MasterCard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. We operate 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 Pioneers Blog and subscribe for the latest news on the Engagement Bureau.
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