MasterCard PayPass™ Trials and Survey Demonstrate Momentum of Contactless Payments
MasterCard International has announced initial results of its MasterCard PayPass™ contactless payment market trials taking place in Orlando, Florida and Dallas, Texas. Key learnings from these trials will allow MasterCard to better focus deployment efforts, leading to broader availability of MasterCard PayPass in other U.S. markets and around the world.
More than 16,000 cardholders and more than 60 retail locations participated in the nine month Orlando trial of MasterCard PayPass. Trial results indicate that consumers find MasterCard PayPass to be simple, quick and convenient. MasterCard PayPass cardholders value the added security that they receive from retaining possession of their card while paying. Consumers also like the convenience of not carrying cash for everyday purchases and going to the ATM less frequently.
Results of the Orlando trial verify that MasterCard PayPass can offer significant time savings. In some locations, MasterCard PayPass reduced purchase times so substantially as to have a tangible impact on retailers’ ability to support additional transactions and thus potentially increase revenues. The most significant time savings have been recognized in the drive-thru environment which shaved between 12 and 18 seconds off the purchase time as compared to cash.
Initial results from the MasterCard PayPass trial in Dallas, Texas reinforce speed and convenience as top benefits. This particular market trial with retailers in the Dallas area allows consumers to tap or wave their phone to make payments simpler. The average MasterCard PayPass payment made using a mobile phone was six seconds faster than using a card, due to the reduction of “fumble time” and MasterCard PayPass payments matched “nearest bill payment” as the quickest way to pay in store at Dallas MasterCard PayPass retailers.
Additional information on the trial results is available by request.