Taken from TheStar, 10 February 2006, page B2.
This news article discussed the launching of the contactless payment card, Pay Pass by MasterCard, a payment method beside the EMV card which was introduced since last year.
MasterCard unveils contact-less payment card
KUALA LUMPUR: MasterCard International has launched the world's first globally interoperable contact-less payment card, PayPass, to enhance the efficiency of payment solutions in Malaysia, said vice-president and senior country manager Malaysia and Brunei, Jim Cheah.
The dual-interface contact-less Europay-MasterCard-Visa (EMV) payment solution combines both contact and contact-less interfaces on one chip to widen the usage of the card internationally.
“PayPass is all about convenience and speed whereby cardholders only need tap on the payment terminal to complete a transaction. We are optimistic about the take-up rate in Malaysia as the card's unique features will attract cardholders' interest,” he said after the launch of the MasterCard PayPass yesterday.
Currently, the card is available in the US, Thailand, Taiwan, Japan and the Philippines.
“MasterCard International intends to expand the PayPass service to more countries to increase the usage of the card globally,” Cheah said, but declined to elaborate.
Malaysian merchants that accept the PayPass card include Carrefour, KLIA Express, Starbucks Coffee, P & Co and Vincci.
Financial institutions such as MBF Cards (M) Sdn Bhd, RHB Bank Bhd and Southern Bank Bhd are currently issuing credit cards with the new feature.“This indicates that issuing banks, merchants and cardholders are seeing the benefits of PayPass and that the idea of tap and go is certainly compelling,” he added.