MASTERCARD PAYPASS RECORDS DOUBLE-DIGIT GROWTH IN FIRST QUARTER

KUALA LUMPUR, June 28 (Bernama) -- MasterCard PayPass, a contactless payment
service introduced by MasterCard Worldwide in 2004, recorded a double-digit
growth of 49 per cent in the first quarter ended March 31, 2010, compared to the
same period last year.

Its group head, product and solutions, Asia Pacific, Middle East and Africa,
Shuan Gaidan, said consumer preference and satisfaction from using contactless
payments had contributed to the growth, with 94 per cent of PayPass users
reporting "very satisfied" or "satisfied" with the service in a study.

"As PayPass users enjoy the 'Tap and Go' benefits offered, MasterCard is
leading the innovation to accelerate mobile payments through near field
communication devices," Gaidan said.

"And we're looking forward to working closely with industry leaders to
introduce innovative mobile payment solutions that cater to consumers'
increasingly mobile lifestyle," he said in a statement Monday.

The MasterCard PayPass contactless payment feature allows cardholders to
make simple transactions with just a tap of the card on a special terminal or
reader.

Gaidan said the group recently collaborated with France's Gemalto, the world
leader in digital security, to pilot a near field communication device that
transformed mobile phones into PayPass contact less payment devices.

"The Gemalto Upteq N-Flex Solution is a wafer-thin device that can be
inserted into the mobile phone and is an industry first as it is able to
function on an array of existing mobile handsets," he said, adding that the
initial trial of the mobile payment solution had kicked off in Singapore with
DBS Bank, EZ-Link and Starhub.

As of first quarter 2010, there are nearly 75 million PayPass cards and
devices issued for use at around 230,000 merchant locations worldwide.

-- BERNAMA



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