MasterCard (including Maestro)
PayPass accounts for the vast majority of the remainder.
9 October 2014 -- UK-based retail banking and electronic payments software provider Compass Plus said that with its technological assistance Kenya Commercial Bank is now able to offer acceptance of contactless cards based on MasterCard (NYSE: MA)
PayPass technology.
Kenya Commercial Bank has cleared its MasterCard
PayPass certification.
For example, if you went into a coffee shop today and you decided to use
PayPass [ http://www.mastercard.us/paypass.html ], you'd tap your card and leave - it's a fantastic experience.
Now, CHT subscribers will be able to use their mobile phone for contactless payments at over 20,000 MasterCard
PayPass point of sale readers across Taiwan including supermarkets, department stores and a fleet of taxis.
NFC can be used in contactless payment systems such as credit cards (MasterCard
PayPass) and electronic ticket smartcards (subway ticket).
Not too long ago, the company launched
PayPass, a contactless payment platform that lets users tap their smartphone, credit or debit card, watches or wrist bands on a machine reader to make payments.
The card company recently announced a record 28 per cent growth in contactless payments technology through its MasterCard
PayPass. This network now has nearly 700,000 merchant locations in 51 countries.
These associations have led to the development of highly innovative payment solutions, most notably the MasterCard
PayPass payments programme, which enables customers to make payments by simply tapping their contactless card, key fob or cell phone on a point-of-sale terminal reader.
The firm said it is working with fellow industry player Network International to roll out its
PayPass terminals across convenience stores, coffee shops, fast food restaurants and cinemas, claiming the contactless system will offer customers "a secure, fast and highly convenient way to pay".