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Frost & Sullivan Recognizes MasterCard as the Leader in the World Contactless Smart Card Payment Market
MasterCard celebrates award as it announces nearly 55 million MasterCard PayPass cards and devices now in circulation globally
Purchase, NY, May 04, 2009 -
MasterCard Worldwide today announced it has received Frost & Sullivan’s Company of the Year Award for the global performance of its contactless MasterCard® PayPass™ product. Recognized for its innovation and unparalleled excellence within the world contactless smart card payment market, the strength of MasterCard’s business development, competitive strategy, customer satisfaction and leadership has earned the company this honor.
Leading the market from its earliest stages, MasterCard implemented numerous contactless payment card solutions around the world based upon extensive end-user analysis and solid research and development. With this keen understanding of the cardholder and also the retailer experience for transactions, MasterCard has been able to provide a clear innovation roadmap for other stakeholders in the contactless payment market. Now as of 1Q09, with nearly 55 million PayPass devices in use at more than 146,000 merchant locations globally it is clear that MasterCard PayPass is making a significant impact on how consumers are paying around the world enabling simple, quick and secure transactions.
"The contactless payment market is showing signs of significant growth and this is largely due to MasterCard’s efforts and innovative thinking,” said Shyam Krishnan, Frost & Sullivan. “By working with partners around the world the company has played a pivotal role in advancing the market and has confirmed the company’s leadership and demonstrated excellence."
"We are honored to receive this award as validation of our leadership in the contactless payments market providing secure, convenient and valuable payment innovations that drive success for all of our partners,” said Cathleen Conforti, Global PayPass Product Manager, MasterCard Worldwide. “As we look ahead, we remain committed to the rollout of contactless payments and providing consumers with an alternative to cash and innovative new ways to pay, such as form factors, fobs and mobile phones. We continue to grow PayPass acceptance in new locations, such as vending machines and public transportation, and expand the reach of PayPass into new markets around the world."
PayPass Momentum around the World
Circle K to Accept MasterCard PayPass:
MasterCard announced that Circle K, one of North America’s most popular and successful operators of convenience stories, will accept MasterCard PayPass at select stores across the U.S.
Barclaycard Makes Contactless a Reality for More Than One Million UK Consumers:
Barclaycard has over one million MasterCard PayPass-branded Barclaycard credit cards in the UK. In addition, Barclaycard and Orange recently announced a strategic partnership to enable customers to use their mobile phones to pay for goods and services at retailers by simply waving their handset against a reader, targeting a customer base of 28 million UK consumers. MasterCard will provide the payment capabilities for the contactless transactions.
Successful NFC Contactless Trial Closes in Canada:
MasterCard also worked with Bell Mobility to introduce NFC mobile phones with its PayPass payment functionality to Bell’s subscribers. The deal was announced mid-2008 and was a closed trial. During the trial, subscribers were able to make secure purchases with the phones at any location in Canada that accepts PayPass.
MasterCard and global retail leader Carrefour launched the PASS MasterCard:
Customization of services, flexibility in use, and the very latest card technology, including the MasterCard PayPass Tap & GoÔ contactless functionality, have been combined into this new card program specifically for the Carrefour customer. Moreover, the card features joint credit/debit functionality so consumers can decide how to pay for their purchases at the point-of-sale.
Delta City and Banca Intesa launch a Maestro® PayPass™ gift card in Serbia:
Delta City and Banca Intesa in cooperation with MasterCard started the sale of the first top-up gift cards in the country which also feature Maestro PayPass technology. The card is available at Delta City’s Info-desk, as well as at 40 Banca Intesa branch-offices across Serbia.
MasterCard Sees PayPass Success in Stadiums:
In November 2008, Baden-Württembergische Bank (BW-Bank) and VfB Stuttgart introduced a multifunctional fan card at Mercedes-Benz Arena in Germany. The card enables fans to make purchases both inside and outside the stadium without taking unnecessary time away from supporting their favorite teams.
MasterCard Announces Official Operation of TaiwanMoney Card at Kaohsiung Mass Rapid Transit:
MasterCard in collaboration with Kaohsiung City Government and Kaohsiung Rapid Transit Corporation announced that TaiwanMoney Card – the world’s first dual interface, contact and contactless payment card for transportation and everyday life expenses – is now officially in operation at Kaohsiung Mass Rapid Transit (KMRT).
About MasterCard PayPass
PayPass™ is a “contactless” payment feature that provides consumers with a fast and convenient alternative to cash for their everyday small purchases, and can be added to any MasterCard or Maestro account. Consumers simply tap their PayPass-enabled card or device (such as a payment tag) on a specially equipped merchant terminal, eliminating the need to fumble for cash and coins, hand their card over to a clerk, or swipe the card. Signatures are not required for PayPass purchases under $25, further speeding customers’ transactions. PayPass also provides better record-keeping than cash. PayPass is ideal for quick payment environments where speed is essential, such as quick serve restaurants, gas stations, drug stores, vending machines, movie theaters, transit, and sports arenas.
As of 1Q09 there are nearly 55 million PayPass cards and devices in use at more than 146,000 merchant locations worldwide. There are a number of PayPass trials and rollouts currently underway in 28 countries, including Australia, Canada, China, the Czech Republic, France, Germany, Indonesia, Italy, Japan, Korea, Lebanon, Malaysia, Mexico, Mongolia, the Philippines, Poland, Romania, Russia, Serbia, Slovakia, Spain, Switzerland, Taiwan, Thailand, Turkey, the United Arab Emirates, the United Kingdom and the United States.
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 transactions 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.
Leading the market from its earliest stages, MasterCard implemented numerous contactless payment card solutions around the world based upon extensive end-user analysis and solid research and development. With this keen understanding of the cardholder and also the retailer experience for transactions, MasterCard has been able to provide a clear innovation roadmap for other stakeholders in the contactless payment market. Now as of 1Q09, with nearly 55 million PayPass devices in use at more than 146,000 merchant locations globally it is clear that MasterCard PayPass is making a significant impact on how consumers are paying around the world enabling simple, quick and secure transactions.
"The contactless payment market is showing signs of significant growth and this is largely due to MasterCard’s efforts and innovative thinking,” said Shyam Krishnan, Frost & Sullivan. “By working with partners around the world the company has played a pivotal role in advancing the market and has confirmed the company’s leadership and demonstrated excellence."
"We are honored to receive this award as validation of our leadership in the contactless payments market providing secure, convenient and valuable payment innovations that drive success for all of our partners,” said Cathleen Conforti, Global PayPass Product Manager, MasterCard Worldwide. “As we look ahead, we remain committed to the rollout of contactless payments and providing consumers with an alternative to cash and innovative new ways to pay, such as form factors, fobs and mobile phones. We continue to grow PayPass acceptance in new locations, such as vending machines and public transportation, and expand the reach of PayPass into new markets around the world."
PayPass Momentum around the World
Circle K to Accept MasterCard PayPass:
MasterCard announced that Circle K, one of North America’s most popular and successful operators of convenience stories, will accept MasterCard PayPass at select stores across the U.S.
Barclaycard Makes Contactless a Reality for More Than One Million UK Consumers:
Barclaycard has over one million MasterCard PayPass-branded Barclaycard credit cards in the UK. In addition, Barclaycard and Orange recently announced a strategic partnership to enable customers to use their mobile phones to pay for goods and services at retailers by simply waving their handset against a reader, targeting a customer base of 28 million UK consumers. MasterCard will provide the payment capabilities for the contactless transactions.
Successful NFC Contactless Trial Closes in Canada:
MasterCard also worked with Bell Mobility to introduce NFC mobile phones with its PayPass payment functionality to Bell’s subscribers. The deal was announced mid-2008 and was a closed trial. During the trial, subscribers were able to make secure purchases with the phones at any location in Canada that accepts PayPass.
MasterCard and global retail leader Carrefour launched the PASS MasterCard:
Customization of services, flexibility in use, and the very latest card technology, including the MasterCard PayPass Tap & GoÔ contactless functionality, have been combined into this new card program specifically for the Carrefour customer. Moreover, the card features joint credit/debit functionality so consumers can decide how to pay for their purchases at the point-of-sale.
Delta City and Banca Intesa launch a Maestro® PayPass™ gift card in Serbia:
Delta City and Banca Intesa in cooperation with MasterCard started the sale of the first top-up gift cards in the country which also feature Maestro PayPass technology. The card is available at Delta City’s Info-desk, as well as at 40 Banca Intesa branch-offices across Serbia.
MasterCard Sees PayPass Success in Stadiums:
In November 2008, Baden-Württembergische Bank (BW-Bank) and VfB Stuttgart introduced a multifunctional fan card at Mercedes-Benz Arena in Germany. The card enables fans to make purchases both inside and outside the stadium without taking unnecessary time away from supporting their favorite teams.
MasterCard Announces Official Operation of TaiwanMoney Card at Kaohsiung Mass Rapid Transit:
MasterCard in collaboration with Kaohsiung City Government and Kaohsiung Rapid Transit Corporation announced that TaiwanMoney Card – the world’s first dual interface, contact and contactless payment card for transportation and everyday life expenses – is now officially in operation at Kaohsiung Mass Rapid Transit (KMRT).
About MasterCard PayPass
PayPass™ is a “contactless” payment feature that provides consumers with a fast and convenient alternative to cash for their everyday small purchases, and can be added to any MasterCard or Maestro account. Consumers simply tap their PayPass-enabled card or device (such as a payment tag) on a specially equipped merchant terminal, eliminating the need to fumble for cash and coins, hand their card over to a clerk, or swipe the card. Signatures are not required for PayPass purchases under $25, further speeding customers’ transactions. PayPass also provides better record-keeping than cash. PayPass is ideal for quick payment environments where speed is essential, such as quick serve restaurants, gas stations, drug stores, vending machines, movie theaters, transit, and sports arenas.
As of 1Q09 there are nearly 55 million PayPass cards and devices in use at more than 146,000 merchant locations worldwide. There are a number of PayPass trials and rollouts currently underway in 28 countries, including Australia, Canada, China, the Czech Republic, France, Germany, Indonesia, Italy, Japan, Korea, Lebanon, Malaysia, Mexico, Mongolia, the Philippines, Poland, Romania, Russia, Serbia, Slovakia, Spain, Switzerland, Taiwan, Thailand, Turkey, the United Arab Emirates, the United Kingdom and the United States.
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 transactions 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.