MasterCard PayPass Progress Report
MasterCard has reported some new rollout statisticsfor its PayPass contactless payment technology.
According to internal MasterCard data, the average PayPass transaction, credit or debit, is approximately $20. Consumers also use their payment cards more frequently once those cards become PayPass-enabled, approximately 18% more often on average. Though PayPass technology can also be used for transactions exceeding $25 (at which point a signature or PIN is required for verification), roughly 75% of all PayPass transactions were for purchases below $25 and approximately 45% of all PayPass transactions were for purchases below $10.MasterCard also indicates there are now nearly 10 million PayPass cards and devices in the market and approximately 32,000 merchant locations that accept PayPass.
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