Simple and easy way to pay
The MasterCard payment system presents a solution marked by the world's leading experts as “an innovation that takes the payments industry to a new stage of evolution” - the MasterCard PayPass contactless solution . When using MasterCard PayPass, the owner of the card (or other device containing a chip with the PayPass function ) does not need to insert the card into the terminal, swipe it through the reader, sign a slip or enter the PIN code to make a payment. You just need to bring the card to a special wireless PayPass terminal - and the purchase is paid.
Of course, if a purchase is made for an amount that exceeds a certain limit set by the bank (usually about 20-25 euros), a signature on the slip or a PIN will still be required.
The product is convenient to use in places where speed of service is especially important, but cash is traditionally used: in restaurants, cinemas, gas stations.
At the end of 2009, more than 70 million devices with the MasterCard PayPass function were issued in the world , the network for accepting such cards exceeds 200 thousand and continues to expand daily.
How MasterCard PayPass Works
Unlike ordinary plastic cards, MasterCard PayPass has a built-in chip and antenna. To make a payment, the cardholder simply needs to attach it to a special PayPass terminal so that the necessary information is transmitted wirelessly. Thus, cardholders avoid the need to hand over the card to the merchant - their card is always with them. The client's account data goes directly to a special reader and is processed by the highly reliable MasterCard payment system. When using a MasterCard PayPass card, payment confirmation occurs within a few seconds.
The transfer of information from MasterCard PayPass cards takes place on a radio frequency in accordance with the ISO 14443 standard. The processing of information from smart cards and from cards with a magnetic stripe, received during the interaction of the terminal and the card, occurs in accordance with the technical characteristics of the MasterCard Proximity Chip (EMV / ISO 7816 ).
In North America, most purchases are made on the Internet, so information stored on the magnetic stripe (data on track 2, in certain cases on track 1) is usually used for authorization.
In regions with widespread adoption of EMV smart cards, PayPass purchases are driving the spread of MasterCard M / Chip technology. The main difference is that the transfer of payment data does not require contact with the terminal, as, for example, when swiping a card through a reader. The Issuer can authorize PayPass card transactions online and offline, which enhances the risk management capabilities inherent in all MasterCard M / Chip chip products.
MasterCard is introducing a global standard that will enable ticketing, loyalty programs, online shopping, debit, credit and contactless payments.
Benefits of MasterCard PayPass
The advantage of PayPass is that all parties involved in the payment process, such as cardholders, merchants and financial institutions, recognize its beneficial characteristics.
PayPass provides consumers with:
MasterCard conducted a large-scale study that found that 63% of consumers “definitely” or “probably” will use a MasterCard PayPass card as soon as it appears in their bank. They also stated that the card would allow them to cut their cash use by more than half (53%). Consumer feedback suggests that PayPass is perceived as “innovative”, “fun” to use and easier to shop with.
Launch of MasterCard PayPass product to market
MasterCard PayPas is an international name that is common to all key markets of the payment system. The first PayPass transaction in Russia took place in 2006 at one of the fast food restaurants located in Kamergersky Lane in Moscow.
For more information, contact your MasterCard representative in your area or send a request by email: [email protected]
The MasterCard payment system presents a solution marked by the world's leading experts as “an innovation that takes the payments industry to a new stage of evolution” - the MasterCard PayPass contactless solution . When using MasterCard PayPass, the owner of the card (or other device containing a chip with the PayPass function ) does not need to insert the card into the terminal, swipe it through the reader, sign a slip or enter the PIN code to make a payment. You just need to bring the card to a special wireless PayPass terminal - and the purchase is paid.
Of course, if a purchase is made for an amount that exceeds a certain limit set by the bank (usually about 20-25 euros), a signature on the slip or a PIN will still be required.
The product is convenient to use in places where speed of service is especially important, but cash is traditionally used: in restaurants, cinemas, gas stations.
At the end of 2009, more than 70 million devices with the MasterCard PayPass function were issued in the world , the network for accepting such cards exceeds 200 thousand and continues to expand daily.
How MasterCard PayPass Works
Unlike ordinary plastic cards, MasterCard PayPass has a built-in chip and antenna. To make a payment, the cardholder simply needs to attach it to a special PayPass terminal so that the necessary information is transmitted wirelessly. Thus, cardholders avoid the need to hand over the card to the merchant - their card is always with them. The client's account data goes directly to a special reader and is processed by the highly reliable MasterCard payment system. When using a MasterCard PayPass card, payment confirmation occurs within a few seconds.
The transfer of information from MasterCard PayPass cards takes place on a radio frequency in accordance with the ISO 14443 standard. The processing of information from smart cards and from cards with a magnetic stripe, received during the interaction of the terminal and the card, occurs in accordance with the technical characteristics of the MasterCard Proximity Chip (EMV / ISO 7816 ).
In North America, most purchases are made on the Internet, so information stored on the magnetic stripe (data on track 2, in certain cases on track 1) is usually used for authorization.
In regions with widespread adoption of EMV smart cards, PayPass purchases are driving the spread of MasterCard M / Chip technology. The main difference is that the transfer of payment data does not require contact with the terminal, as, for example, when swiping a card through a reader. The Issuer can authorize PayPass card transactions online and offline, which enhances the risk management capabilities inherent in all MasterCard M / Chip chip products.
MasterCard is introducing a global standard that will enable ticketing, loyalty programs, online shopping, debit, credit and contactless payments.
Benefits of MasterCard PayPass
The advantage of PayPass is that all parties involved in the payment process, such as cardholders, merchants and financial institutions, recognize its beneficial characteristics.
PayPass provides consumers with:
- - the speed and ease of making payments, thus improving the overall level of service;
- - a sense of security, since the cardholder does not let go of his hands for a second;
- - improved quality of reporting to companies.
- - provide fast customer service - increase profits as consumers spend more using cards rather than cash;
- - to ensure the reliability of transactions for fast service enterprises;
- - attract new customers and strengthen their loyalty.
- - increase the total turnover by servicing non-cash payments;
- - to cooperate with fast food companies;
- - to increase the loyalty of account holders to card programs.
MasterCard conducted a large-scale study that found that 63% of consumers “definitely” or “probably” will use a MasterCard PayPass card as soon as it appears in their bank. They also stated that the card would allow them to cut their cash use by more than half (53%). Consumer feedback suggests that PayPass is perceived as “innovative”, “fun” to use and easier to shop with.
Launch of MasterCard PayPass product to market
MasterCard PayPas is an international name that is common to all key markets of the payment system. The first PayPass transaction in Russia took place in 2006 at one of the fast food restaurants located in Kamergersky Lane in Moscow.
For more information, contact your MasterCard representative in your area or send a request by email: [email protected]
