MasterCard updates progress on PayPass

MasterCard has provided an update on the progress of its "PayPass" trial.

Now in its fourth month, the Orlando, Florida MasterCard PayPass market trial has 16,000 cardholders and nearly 60 merchant locations participating. Additionally, MasterCard recently began working with Nokia to incorporate MasterCard PayPass into mobile phones. A Nokia market trial currently taking place with retailers in the Dallas, Texas area allows consumers to tap or wave their phone to make payments simpler. "MasterCard is pleased with how PayPass has grown since we launched our market test four months ago. We're already evolving PayPass to meet growing consumer needs that have resulted from the Orlando pilot," said Art Kranzley, EVP and chief e-Business officer, MasterCard International. "Over the next few months, MasterCard will continue to lead the industry in introducing additional PayPass-related innovations, delivering to consumers more convenient payment solutions to make their everyday purchases."