MasterCard Bumps PayPass No Signature Threshold to $50 in Canada
MasterCard has announced that in Canada it has increased its purchase threshold limit for PayPass Tap & Go purchases to $50 across all retail categories, including quick serve restaurants, grocery stores, gas stations, movie theatres and convenience stores.
"In 2008, we will be continuing our expansion of MasterCard PayPass in Canada. The increased purchase limits announced today, and further market introductions will help to deliver the benefits of PayPass to more Canadians," said William Giles, Vice President, Acceptance and Merchant Development, MasterCard Canada. "Over the next two years, we will also increase card availability by adding the PayPass feature on the majority of cards provided by MasterCard issuers."
With PayPass, MasterCard cardholders authorize their transactions securely via radio frequency (RF) by "tapping" their cards against a PayPass enabled point-of-sale payment terminal. Receipts are always available, and if a cardholder does not receive a receipt, they can simply ask and a receipt will be provided. Signatures are not required for purchases under $50, further speeding customers' transactions. Purchases over $50 will still require a receipt signature.
"PayPass truly puts the cardholder in control," added Giles. "Your card never leaves your hand when making a payment, a monthly statement keeps track of spending, and purchases are protected by Zero Liability."
Cardholders enjoy all the same protections from fraud with PayPass as they would with conventional MasterCard payments. PayPass is supported by robust, multi-level security protections including the encryption of PayPass RF transaction transmission and the multiple security benefits of the MasterCard payment system.
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