HSBC Begins Issuing MasterCard PayPass Debit Cards
HSBC Bank USA has announced that is has begun issuing new debit cards with MasterCard PayPass contactless technology. The bank said it expects to issue about 1 million cards through the end of 2005 and will be the first bank to completely reissue its debit cards to include PayPass.
"With MasterCard PayPass, we're adding time savings and convenience to our debit checking account packages and using technology to improve our customer's experience," said Kevin Newman, senior executive vice president for Personal Financial Services. "PayPass gives our customers an innovative, convenient and secure payment option, while providing them with the same zero- liability protections as traditional payment cards.""MasterCard PayPass is simpler and faster than cash, thereby speeding consumers through the check-out process," said Cathleen Conforti, senior vice president and Global PayPass Product Manager, MasterCard International. "PayPass also provides consumers with better record keeping than cash, and increases their feeling of security, since they remain in control of the card during transactions."
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