Harvard University Employees Credit Union First Credit Union to Issue MasterCard(R) PayPass(TM).Harvard employees, students, faculty and alumni to use HUECU HUECU Harvard University Employees Credit Union (Cambridge, MA) MasterCard PayPass debit cards to Tap & Go[TM] when buying items throughout Harvard Square Harvard Square is a large triangular area in the center of Cambridge, Massachusetts, at the intersection of Massachusetts Avenue, Brattle Street, and John F. Kennedy Street. and around the world PURCHASE, N.Y. -- MasterCard Worldwide and Harvard University Harvard University, mainly at Cambridge, Mass., including Harvard College, the oldest American college. Harvard College Harvard College, originally for men, was founded in 1636 with a grant from the General Court of the Massachusetts Bay Colony. Employees Credit Union (HUECU) today announced that HUECU has begun issuing Debit MasterCard cards enabled with the MasterCard[R] PayPass[TM] payment functionality, bringing the speed and convenience of contactless payments to Harvard University employees, faculty, students, alumni and Harvard teaching hospitals and affiliated organizations. HUECU, a state-chartered credit union that has been serving its members since 1939, is the first credit union to announce that it is issuing PayPass.-enabled payment cards. As of Q2 2007 there were more than 16 million PayPass cards and devices in use at more than 55,000 merchant locations worldwide, including Fenway Park • • [ and numerous quick-serve restaurants, cafes, pharmacies, retail establishments and convenience stores The following is a list of convenience stores organized by geographical location. Stores are grouped by the lowest heading that contains all locales in which the brands have significant presence. in the vicinity of Harvard University. "We are proud to be the first credit union to offer this innovative payment functionality to our cardholders," said Jim Lawrence Jim Lawrence may refer to:
In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. ways to better serve our members, and the speed and convenience offered by PayPass fits that ambition precisely." To make a purchase using a PayPass card, users merely need to tap their card on the contactless payment reader at the checkout of participating retail locations. For purchases below $25, no signatures are required, further speeding up the checkout process. "Cardholders quickly embrace the added convenience that MasterCard PayPass delivers. Once they 'tap and go' they tend to use their MasterCard PayPass cards regularly, and to gravitate grav·i·tate intr.v. grav·i·tat·ed, grav·i·tat·ing, grav·i·tates 1. To move in response to the force of gravity. 2. To move downward. 3. towards those merchants that accept it," said Cathleen Conforti, Senior Vice President and Global PayPass Product Manager, MasterCard Worldwide. "Harvard University Employees Credit Union's decision to issue MasterCard PayPass will provide it with a competitive differentiator that appeals to savvy customers looking for a financial institution that helps simplify their lives." How MasterCard PayPass Works MasterCard PayPass uses radio frequency technology to securely transmit payment details wirelessly between the PayPass device and the merchant's terminal. PayPass cards include magnetic stripe A small length of magnetic tape adhered to credit cards, badges, permits, passes and tokens. The tape is read by magnetic stripe readers incorporated into ATMs, identification readers and payment terminals. technology, so the cards can also be used in the traditional manner anywhere MasterCard is accepted around the world. PayPass technology can also be used in a number of devices, such as a convenient payment tag that fits on a key chain for easy access. MasterCard is also driving the effort to make contactless payments available on mobile phones. PayPass allows financial institutions to offer cardholders more payment options and it helps increase purchase volume for issuers by attracting payments away from cash, increasing accountholder loyalty for their card programs and opening up new acceptance opportunities for "quick pay" environments. PayPass technology enhances any payment account it is added to - be it a credit, debit, prepaid, co-brand, small business or private label account. Metavante Corporation Metavante is a company that provides financial technology services and software to its customers, consisting primarily of small to large sized financial institutions. The $1.5 billion organization is headquartered in Milwaukee, Wisconsin and employs over 5,600 employees in 35 U.S. , the banking and payments technology subsidiary of Marshall & Ilsley Corporation (NYSE NYSE See: New York Stock Exchange :MI), is the processor for Harvard University Employees Credit Union. About MasterCard PayPass MasterCard PayPass is ideal for traditional cash-heavy environments where speed is essential, and has led the way in bringing contactless technology to consumer categories such as quick serve restaurants, drug stores, gas stations, vending machines, convenience stores, sports arenas, movie theaters, transit systems and parking garages. As of 2Q 2007, there are more than 16 million PayPass cards and devices issued globally, and PayPass is currently accepted globally at more than 55,000 merchant locations, including participating 7-Eleven, CVS (1) (Concurrent Versions System) A version control system for Unix that was initially developed as a series of shell scripts in the mid-1980s. CVS maintains the changes between one source code version and another and stores all the changes in one file. , McDonald's, Regal Entertainment Group theaters and many others. PayPass is also accepted at numerous National Football League and Major League Baseball stadiums The following is a list of current and former Major League Baseball stadiums. Current stadiums Team name Stadium name Year completed Capacity Initial cost Government funding Other tenants Arizona Diamondbacks Chase Field 1998 49,033 $355 million 76% . For more information about MasterCard PayPass and a full list of participating merchants, visit www.mastercard.com/paypass. About MasterCard Worldwide MasterCard Worldwide advances global commerce by providing a critical economic link between financial institutions, businesses, cardholders and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes close to 16 billion payments each year, and provides industry-leading analysis and consulting services to financial institution customers and merchants. Through its family of brands, including MasterCard[R], Maestro[R] and Cirrus[R], MasterCard Worldwide serves consumers and businesses in more than 210 countries and territories. For more information go to www.mastercardworldwide.com. About Harvard University Employees Credit Union Offering a variety of quality financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , Harvard University Employees Credit Union has been serving employees, students and alumni of Harvard University, Harvard teaching hospitals and affiliated organizations since 1939. |
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