Staples Announces Plans to Accept MasterCard® PayPass™ and MasterCard Chip Cards
TORONTO, September 22, 2008 – Staples Inc. today announced plans to accept two new payment options that will give its customers a convenient alternative to cash. Staples will begin installing MasterCard PayPass-enabled readers and chip card terminals in its 300 Staples Business Depot and Bureau en Gros stores across Canada beginning early in 2009.
“We’re excited about our plans to further enhance our customer experience through the value that these MasterCard payment technologies provide,” said Steve Matyas, president of Staples Canada. “We want all of our stores to be ready to offer our customers the newest innovation in enhanced payment security and convenience.”
Credit and debit cards are being upgraded with chip technology in order to enhance the security of payments. The way you complete a transaction with your MasterCard chip-enabled card will change, but the card will continue to function as a normal credit card with all the same features. In the future, instead of swiping a card that has a magnetic stripe on the back, cardholders will insert a card that has a computer chip embedded on the front. Instead of signing to verify a payment, cardholders will enter a private Personal Identification Number (PIN).
In addition to better security protection, the chip system can be used to provide innovative new payment features like MasterCard PayPass. With the PayPass payment feature, MasterCard cardholders authorize their transactions securely via radio frequency (RF) by “tapping” their cards against a PayPass enabled point-of-sale payment terminal. Signatures are not required for purchases under $50 (Canadian) and receipts are always available. Purchases over $50 (Canadian) will still require a receipt signature. A PayPass transaction is faster than paying by cash and designed for busy merchant environments like Staples Business Depots.
“MasterCard is pleased to be working with Staples to provide our innovative payment solutions to their customers,” said Kevin Stanton, President of MasterCard Canada. ”We believe that both chip and PayPass technologies will bring significant benefits to Staples stores across Canada. I think this is yet another wonderful example of how merchants and MasterCard work together to provide Canadians with the speediest and ever more secure experience at the point-of-sale.”
About credit cards with chip technology
The new chip-enabled cards carry a small computer processor chip with memory, logic and a configuration of software applications, significantly enhancing security and preventing unauthorized use or copying. The chip holds information in an encrypted form and requires the use of a PIN to complete the payment process. Canadian MasterCard cards will also continue to carry magnetic stripes in order to be compatible at all retailers who have yet upgraded their payment terminals to accept chip cards as well as in other parts of the world where chip technology is not available.
About MasterCard PayPass
PayPass continues to gain strong momentum worldwide. As of Q2 2008, there are nearly 37 million MasterCard PayPass cards and devices in use at more than 122,000 merchants worldwide. There are a number of PayPass trials and rollouts currently underway in 25 countries, including Australia, Canada, China, the Czech Republic, France, Germany, Indonesia, Italy, Japan, Korea, Lebanon, Malaysia, Mexico, Mongolia, the Philippines, Poland, Russia, Spain, Switzerland, Taiwan, Thailand, Turkey, the United Arab Emirates, the United Kingdom and the United States.
Canadians can currently use PayPass at Rabba Fine Foods, Cineplex Odeon, Tim Hortons and Petro-Canada, Pioneer Petroleum and Loblaw Companies stores across Canada, and beginning later this year, McDonald’s Restaurants will also be introducing PayPass.
About Staples Canada
Founded in Toronto in 1991, The Business Depot Ltd. is Canada’s largest supplier of office supplies, business machines, office furniture and business services for the small business and home office customer. The company is an everyday low price retailer. The chain operates stores in all provinces across Canada under the banners STAPLES® Business Depot™ and Bureau en GrosMC. The company has over 13,500 employees serving customers through 300 office superstores, catalogue, and e-commerce. STAPLES Business Depot/Bureau en Gros is committed to making shopping easy by offering customers three ways to shop: online, by catalogue and in-store. Marketing Magazine’s Marketing/Leger 2008 Corporate Reputation Survey ranked STAPLES Business Depot/Bureau en Gros number one among Canada’s top 100 companies surveyed in Canada. For more information please visit www.easy.staples.ca
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 18 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.
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