| Contacts |
| Marcus Molina MasterCard 305-539-2320 |
| Janet Rivera-Hernandez MasterCard 305-539-2304 |
MasterCard PayPass for Public Transportation Arrives in Rio de Janeiro, First in Latin America
Rio de Janeiro, November 04, 2009 -
MasterCard Worldwide, Credicard, Citibank’s credit card administrator for the Brazilian market, and Redecard, Brazilian acquiring company, announced today 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.”
MasterCard PayPass in Rio de Janeiro
The three companies chose Rio de Janeiro for the launch MasterCard PayPass because of its strong infrastructure, international relevance, dynamic and young population, and its appeal as a key tourist destination; particularly from countries where PayPass is widely used such as Europe, Canada, and the U.S.
For additional information, please view an interview with Max Chion, MasterCard Latin America and Caribbean’s Head of Products and Solutions on MasterCard's YouTube Channel.
About MasterCard PayPass
PayPass is a contactless payment application offering a fast and convenient alternative to cash for small ticket purchases and can be added to any MasterCard or Maestro account. The consumer simply taps the PayPass activated card or device (like a payment tag) on a special merchant terminal, eliminating the need to search for cash and coins, hand the card to a sales assistant or to swipe the card through a machine. Purchases under 50 BRL which are made using PayPass do not require a signature, further increasing the speed of consumer transactions. PayPass also makes it easier to manage money and is ideal for fast payment environments where speed is important, like fast food restaurants, gas stations, pharmacies, vending machines, cinemas, public transportation and sports stadiums.
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 approximately 21 billion payments each year, and provides industry-leading analysis and consulting services to financial institution customers and merchants. Powered by the MasterCard Worldwide Network and 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. For current news about MasterCard, follow us on Twitter: @MasterCardNews.
About Credicard
Credicard – the credit card administrator of Citi, one of the world’s largest credit card issuers – has been operating in Brazil for almost 40 years and is the fourth largest payment card administration company in Brazil among private issuers. Credicard manages cards under the Diners Club International, Visa and MasterCard brands. For further information, see www.credicard.com.br.
About Citi
Citi, one of the world’s leading financial service companies, has approximately 200 million customer accounts in 40 countries. Through its Citicorp and Citi Holdings operating units, Citi provides clients, companies, governments and institutions with a wide range of financial products and services, including private banking, credit, corporate and investment banking services, securities brokerage and wealth management. For further information, access www.citigroup.com. For more information about Citi Brazil, www.citi.com.br.
About Redecard
One of the leading companies in the electronic payments industry, Redecard focuses on the needs of its customers. Redecard is the main acquirer for the MasterCard® and Diners Club International brands, it has a wide-ranging product portfolio including over ten voucher and store cards (private label) as well as equipment rentals, terminal-based mobile reloading and check consultation services. Redecard has nationwide presence and captures over 1.8 billion transactions annually quickly and securely.
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.”
MasterCard PayPass in Rio de Janeiro
The three companies chose Rio de Janeiro for the launch MasterCard PayPass because of its strong infrastructure, international relevance, dynamic and young population, and its appeal as a key tourist destination; particularly from countries where PayPass is widely used such as Europe, Canada, and the U.S.
For additional information, please view an interview with Max Chion, MasterCard Latin America and Caribbean’s Head of Products and Solutions on MasterCard's YouTube Channel.
About MasterCard PayPass
PayPass is a contactless payment application offering a fast and convenient alternative to cash for small ticket purchases and can be added to any MasterCard or Maestro account. The consumer simply taps the PayPass activated card or device (like a payment tag) on a special merchant terminal, eliminating the need to search for cash and coins, hand the card to a sales assistant or to swipe the card through a machine. Purchases under 50 BRL which are made using PayPass do not require a signature, further increasing the speed of consumer transactions. PayPass also makes it easier to manage money and is ideal for fast payment environments where speed is important, like fast food restaurants, gas stations, pharmacies, vending machines, cinemas, public transportation and sports stadiums.
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 approximately 21 billion payments each year, and provides industry-leading analysis and consulting services to financial institution customers and merchants. Powered by the MasterCard Worldwide Network and 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. For current news about MasterCard, follow us on Twitter: @MasterCardNews.
About Credicard
Credicard – the credit card administrator of Citi, one of the world’s largest credit card issuers – has been operating in Brazil for almost 40 years and is the fourth largest payment card administration company in Brazil among private issuers. Credicard manages cards under the Diners Club International, Visa and MasterCard brands. For further information, see www.credicard.com.br.
About Citi
Citi, one of the world’s leading financial service companies, has approximately 200 million customer accounts in 40 countries. Through its Citicorp and Citi Holdings operating units, Citi provides clients, companies, governments and institutions with a wide range of financial products and services, including private banking, credit, corporate and investment banking services, securities brokerage and wealth management. For further information, access www.citigroup.com. For more information about Citi Brazil, www.citi.com.br.
About Redecard
One of the leading companies in the electronic payments industry, Redecard focuses on the needs of its customers. Redecard is the main acquirer for the MasterCard® and Diners Club International brands, it has a wide-ranging product portfolio including over ten voucher and store cards (private label) as well as equipment rentals, terminal-based mobile reloading and check consultation services. Redecard has nationwide presence and captures over 1.8 billion transactions annually quickly and securely.