Amyn Dhala- Business Leader, Product Dev for Mastercard speaks with bnetTV at the 2012 Pepcom event held in New Orleans and gives us a overview of their product.
Shopping is fast when you don’t have to swipe
PayPass is a payment method that lets you make everyday purchases without having to swipe the magnetic strip on your card or provide your signature*. It's faster than fumbling with cash or waiting for change, and it makes checkout easier than ever. All you have to do is Tap & Go™ at one of the hundreds of thousands of PayPass-accepting merchants around the world with a PayPass-enabled phone, card, key fob or mobile payment tag.
MasterCard PayPass Next generation payment technology A tiny microchip and radio antenna embedded in your PayPass-enabled device transmit your payment details wirelessly to a high-speed PayPass reader at checkout. The reader then verifies your transaction with your bank through MasterCard's reliable network and indicates approval almost instantly.
MULTIPLE SECURITY SAFEGUARDS
Encryption technology and MasterCard Zero Liability† protection on your PayPass-enabled Credit, Debit or Prepaid MasterCard card make using PayPass at checkout as safe as swiping. And PayPass has built-in safeguards to help prevent unwanted purchases:
- It never leaves your hands at checkout
- It must be extremely close to the reader to work
- It only bills you once – even if you tap twice by mistake
Encryption is just one of many security technologies MasterCard uses to help prevent and detect fraud. Learn more about MasterCard card security features.
Want a MasterCard PayPass Card?
http://www.mastercard.us/get-a-paypass-card.html
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