Canada Embraces MasterCard PayPass®
MasterCard, Giesecke & Devrient keep Canadians at the forefront of payment technology
TORONTO - PARIS, November 13, 2007 – MasterCard Worldwide partnered with Giesecke & Devrient to provide Canadians with MasterCard PayPass, a faster, convenient and more secure way to make purchases. Cardholders with a PayPass-enabled MasterCard can pay for their purchase by simply tapping their card on a specially equipped point-of-sale terminal
Introduced to Canadians in 2004, PayPass continues to grow in its popularity and is embraced by consumers, card issuers and major merchants, including Citibank, President’s Choice Financial, Tim Hortons, Petro-Canada, Rabba Fine Foods, Cineplex Theatres, and Coffee Time. Most recently, McDonald’s Canada announced plans to make the payment service available in their stores, beginning in 2008.
“G&D is proud to support MasterCard PayPass in the Canadian market. G&D offers the innovation to allow Canadian consumers a convenient and secure payment experience,” says Anna Rossetti, President of Giesecke & Devrient Canada.
MasterCard PayPass is ideal for traditionally cash-heavy environments where prompt customer service is essential, such as quick service restaurants, drug stores, gas stations, vending machines, convenience stores, sports arenas, movie theatres, transit systems and parking garages.
“MasterCard PayPass is popular with merchants because contactless payments are simpler and faster than cash, which reduces customer wait times – it is a new and fast way to pay," says Kevin Stanton, President of MasterCard Canada. “Together with Giesecke & Devrient, we will continue to provide new and innovative payment technology.”
MasterCard PayPass uses radio frequency technology to transmit payment details wirelessly between the PayPass device and the merchant's terminal. The transaction is then processed through the MasterCard network for clearing and settlement. PayPass cards can also be used in the traditional manner whereverMasterCard is accepted around the world. MasterCard PayPass is ideal for traditional, cash-heavy environments where speed is essential, and has led the way in bringing contactless technology to consumer categories, where quick service is important. There are nearly 19 million PayPass cards issued globally in use at over 73,000 merchants worldwide.
About MasterCard Worldwide
MasterCard Worldwide advances global commerce by providing a critical economic link among financial institutions, businesses, cardholders and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes over 16 billion transactions each year, and provides industry-leading analysis and consulting services to financial institution customers and merchants. Through its family of brands, including MasterCard®, Maestro® and Cirrus®, MasterCard serves consumers and businesses in more than 210 countries and territories. For more information go to www.mastercard.com.
About Giesecke & Devrient
Giesecke & Devrient Systems Canada, Inc. (G&D) is the Canadian subsidiary of Giesecke & Devrient GmbH, an international technology group operating over 52 subsidiaries and joint ventures throughout the world. Since 1962, G&D Canada has been the partner of choice to governments, industries and leading Canadian financial institutions in providing secure card systems for payment and identification. Founded in 1852, the G&D Group Worldwide began as a printer of securities, and later specialized in banknote production. The company has been developing solutions and complete systems for automatic currency processing since 1970. Today, G&D is also a technology leader in smart cards and a solutions provider in a wide range of fields, including telecommunications, electronic payments, identification, health, transportation, and IT security (PKI). In fiscal 2005, the Group employed more than 7,500 people and generated revenues of EUR 1.24 billion. For more information, visit our Web site at www.ca.gi-de.com.
Giesecke & Devrient, Canada
Manager, Marketing & Communications