Q: What types of merchants will benefit the most from MasterCard PayPass?
A: MasterCard PayPass is an excellent choice for environments where speed and convenience are valued and cash is the dominant payment method, such as fuel pumps, quick-service restaurants (QSRs), drive-thrus, convenience stores, vending machines, tollbooths, taxis, parking venues, etc.
Q: How does pricing work for merchants? Are MasterCard PayPass transactions more or less than traditional credit and debit transactions?
A: The use of the MasterCard PayPass technology has no bearing on pricing. Pricing is entirely dependent on the underlying, existing payment application.
Q: How does this "non-verified" transaction change the payment guarantee for the merchant?
A: The use of MasterCard PayPass does not change the payment guarantee for merchants. Existing rules in place for the product/merchant category in which the transaction takes place continue to apply when data is passed across a contactless interface.
Q: What are the costs involved?
A: To accept PayPass payments, merchants can choose to implement a plug-in peripheral reader or a fully integrated system. Costs will vary depending on the selected solution.
Q: What type of technology is used for MasterCard PayPass?
A: In keeping with our overall strategy to create globally interoperable payment solutions, MasterCard PayPass was built following an open industry standard for radio frequency communications - ISO 14443.
Q: Which vendors are working with MasterCard on MasterCard PayPass?
A: Numerous vendors develop products/services for MasterCard PayPass. Please refer to www.paypass.com for current list.
Q: What were the most significant findings from MasterCard consumer payment trends research?
A: The results of the 2007 Global Cash Usage Survey indicate that we are moving towards a nearly cashless society as the world is becoming less cash-reliant. A plurality of consumers are carrying less cash than they did five years ago, and payment cards have a high penetration in the market. In the US nearly four in 10 Americans (38%) say they carry less cash in their wallets than they did four years ago. Additionally, most consumers (69%) carry less than $50 in their wallets and 81% do not like to carry large amounts of cash.
