|Georgette Tan MasterCard Worldwide +1-65-6390-5971|
MasterCard Announces the Full Scale Roll-Out of the Internationally Recognized TaiwanMoney Card
Also recognised as the world’s first MasterCard OneSmart™ PayPass™ Chip Combi Card, the introduction of the TaiwanMoney Card marks a significant milestone in the payments industry. The all-in-one globally interoperable payment product allows cardholders to make “Tap & Go™” contactless payments at over 51,000 merchant locations worldwide.
The system, which includes the innovative contactless payment solution - MasterCard PayPass has revolutionized the way commuters pay for their transportation in Southern Taiwan. Following its pilot launch on 19 October, 2005, the TaiwanMoney Card rapidly gained popularity in Southern Taiwan. According to a Kaohsiung City Government transaction report, the TaiwanMoney Card recorded substantial increases in the number of transactions within the first quarter of this year when compared the last quarter of 2006. The strong growth demonstrates the success of the program, which was created to provide consumers in seven cities and magistrates in Southern Taiwan with a secure and convenient payments product.
"On behalf of seven cities and magistrates in Southern Taiwan, Kaohsiung City is pleased to be the official project owner of this internationally recognized transportation project,” said Cheng Wen-lung, Deputy Mayor of Kaohsiung City Government. “As we gear up for the 2009 World Games, we are delighted to have the payments system in place in order to provide local and international MasterCard cardholders with the ease and convenience of the payments system. We are pleased to have implemented the TaiwanMoney Card program, which has played a significant role to the development of the city as a world-class payments environment."
“Taiwan has been at the forefront in the development of contactless payment solutions in Asia/Pacific. Since the introduction of the program in 2005, we have introduced the world’s first contactless 3D key chain and watch equipped with MasterCard PayPass. More recently we announced the launch of the MasterCard PayPass for mobile phones, which leveraged Near Field Communication (NFC) and Over-The-Air (OTA) technology," said Shuan Ghaidan, head of product sales and delivery, Asia/Pacific, MasterCard Worldwide. “The TaiwanMoney Card won the 'Best Transportation Application' at 2005 SESAMES Awards in CARTES Exhibition and Conferences for its simplicity and innovation. We are therefore delighted to be a part of this innovative project, which was spearheaded by the Kaohsiung City Government together with industry players. It gives me great pleasure to stand here today with all parties involved to celebrate the full scale roll-out of this integrated card program.”
- Consumers who wish to apply for a TaiwanMoney Card or top it up may do so at Cathay United Bank or E. Sun Bank. In line with the launch, cardholders will stand to benefit from the following.
- From 1 June 2007 the first 2,007 consumers who register themselves at www.taiwanmoney.com.tw will be entitled to a NTD100 fee waiver for the TaiwanMoney Card.
Until 30 June 30, 2007, cardholders who pay with their MasterCard credit cards issued by Cathay United Bank, E. Sun Bank or Shanghai Commercial & Savings Bank at Hi-Life Convenience Stores will be entitled to a free bottle of tea.
Term and conditions apply to both promotions. For more promotion details, please log on to www.taiwanmoney.com.tw
About OneSmart™ MasterCard® PayPass™
PayPass is a new “contactless” payment feature that provides consumers with a fast and convenient alternative to cash for their small everyday purchases. Consumers simply tap their PayPass-enabled card or device 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. PayPass also provides better record keeping than cash. The new solution is ideal for quick payment environments where speed is essential, such as quick serve restaurants, gas stations, drug stores, supermarkets and movie theaters. For more information about PayPass, visit www.mastercard.com/paypass
Evolution of the TaiwanMoney Card
January 2005 – Initial TaiwanMoney Card project announcement
October 2005 – Launch of TaiwanMoney Card pilot program & issuance of commemorative cards
November 2005 - Won 2005 SESAMES Award for Best Transportation Application
July 2006 – Launch of Kaohsiung City Chi-Jin Ferry Citizens card
July 2006 - Top-up card launch
June 2007 - Full Scale Roll-Out of the TaiwanMoney Card
According to the recently released transaction report by the Kaohsiung City Government, TaiwanMoney cardholders in Kaohsiung were able to easily pay for transportation usage:
On public transport within seven southern counties in Southern Taiwan, comprising of 11 traffic transportation companies on 1,700 public buses and 385 traffic routes
On 6 Kaohsiung City Chi-Jin Ferries, with 23 contactless terminals
At more than 2,000 merchants across the island
Global Momentum of MasterCard PayPass
As of Q1 2007, there are over 14 million MasterCard PayPass cards and devices in use at over 51,000 merchants worldwide, including new acceptance environments such as vending, taxis, tollbooths, and transit. In addition to robust deployments at McDonald’s, 7-Eleven, CVS, Duane Reade, Sheetz, Regal Entertainment Group in the US, PayPass has been rolled out in 15 countries. Outside the US, PayPass speeds consumers through the checkout process at such locations as McDonald's (Lebanon and Mexico), Burger King (Turkey), 7-Eleven (Australia), Starbucks (Turkey and Malaysia), Petro-Canada (Canada) and in many other types of merchants including supermarkets, cinemas, gas stations, fast food and transit. PayPass technology has also proven popular in sports facilities, including football and baseball stadiums and professional golfing events. .
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.mastercardworldwide.com.