| MasterCard PayPass for Public Transportation Arrives in Rio de Janeiro, First in Latin America |
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05/11/2009 15:43 (15 Day 16:02 minutes ago) | |||||
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The FINANCIAL -- MasterCard Worldwide, Credicard, Citibank’s credit card administrator for the Brazilian market, and Redecard, Brazilian acquiring company, announced on November 4 the launch of MasterCard PayPass, contactless payment technology, in Rio de Janeiro for public transportation and other quick service merchants.
MasterCard PayPass is the first contactless payment product to be introduced for public transportation in Latin America. Thousands of Credicard MasterCard cardholders in Rio de Janeiro will now be able to enjoy the speed and convenience of making purchases using contactless technology via a MasterCard PayPass key fob at the Pão de Açúcar (Sugar Loaf Mountain) lift, Supervia train stations, UCI cinemas, McDonald's fast food restaurants and Estapar/Riopark parking lots located in Rio. Coming soon, MasterCard PayPass cards and devices issued in Brazil will also be accepted for use at the Rio de Janeiro Metro system. This is just the beginning; as Redecard plans to add more PayPass merchant acceptance locations in the near future.
"It is a great pleasure for MasterCard to invest in Brazil through the development and introduction of innovative payment solutions that makes a consumers life easier,” said Gilberto Caldart, head of MasterCard Brazil.
“With MasterCard PayPass, consumers simply wave their card or device in front of a PayPass enabled terminal for those transactions valued at less than US$25, with no need to swipe the card or sign a receipt; making their buying experience simple, secure and fast,” said Max Chion, Senior Vice President, Products & Solutions for MasterCard Latin America and Caribbean. "Through this new payment innovation, MasterCard seeks to turn those cash transactions into contactless ones.”
For issuers and merchants, MasterCard PayPass provides differentiation and the possibility to reach a new segment. For merchants the technology allows them to function more efficiently and serve their customers by speeding check-processes, reducing cash handling and improving efficiency.
Recent MasterCard surveys have shown that contactless payment technology can reduce the time consumer spends waiting in line by 25%, an important finding given that the same survey revealed that only 21% of consumers want to spend more than 10 minutes in line for purchases under US$25.
“With nearly 66 million cards and devices available in 32 countries, MasterCard is the leader in contactless payments and in the best position to offer our pioneering customers with the first electronic payment solution for public transportation in the region,” added Chion.
Based on its pioneering outlook, Credicard attributes the launch of PayPass to its strategy of expanding its credit card business to the domestic market and foresight in anticipating customer trends in Brazil. "For almost 40 years, Credicard has been recognized for issuing credit cards with unique services and benefits that meet the specific needs of different segments of the population. The launch of MasterCard PayPass reinforces our position of being a brand that puts the needs of our customers first,” said Leonel Andrade, Credicard President.
Redecard made the possibility of using MasterCad PayPass in Rio de Janeiro a reality by equipping the participating merchants with contactless technology-enabled terminals. "Contactless technology is ideal for quick payment environments where speed is essential,” explained Roberto Medeiros, Redecard President. "MasterCard PayPass allows us to expand the use of electronic payments, particularly at those merchant locations with a large amount of low value-ticket purchases where speed is important, such as public transportation, movie theaters and fast food restaurants.”
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