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MasterCard and New York Giants Enlist Fans to Test Latest PayPass(TM)-Enabled Contactless Payment Device; First 5,000 Fans at Giants-Colts Opening Day Game to Receive Payment-Enabled Wristband.

PURCHASE, N.Y. -- MasterCard Worldwide today announced the first trial of its latest form factor in contactless payment technology, the MasterCard(R) PayPass(TM) wristband. The new PayPass wristband will be given to the first 5,000 fans entering Giants Stadium for the New York Giants-Indianapolis Colts football game on Sunday, September 10, compliments of MasterCard. The wristbands feature Giants' team colors and will be pre-loaded with $25. The wristband can be used at concession stands where PayPass is accepted. This trial is designed to test a new contactless form factor specific to venues and special events such as professional football and Major League Baseball (MLB) games.

PayPass offers consumers a convenient alternative to cash that allows for small ticket purchases to be completed quickly, securely and easily. Consumers no longer need to fumble for cash and coins, swipe a card, or sign a receipt for any PayPass purchase under $25 (purchases over $25 will require a signature and a receipt). Users simply tap their PayPass-enabled card or device on the PayPass reader at participating locations and they are on their way.

"We are proud to be working with the New York Giants to launch the first trial of our new PayPass-enabled wristbands," said Art Kranzley, Group Executive, Advanced Payments, MasterCard Worldwide. "We understand how much consumers appreciate the speed and convenience that PayPass offers, and we are happy that we can go one step further and create something that is both stylish and functional."

"The New York Giants worked with MasterCard one year ago to install PayPass readers in our food and vendor kiosks, and it has been a huge success," said Rusty Hawley, Vice President of Marketing, New York Giants. "To work with MasterCard again to further enhance the fan experience while enabling spectators to show off their team pride is an added bonus."

About MasterCard PayPass

PayPass cards and devices feature a radio frequency embedded chip and antenna that quickly and securely transmits payment details wirelessly between the PayPass device and the merchant's terminal. The transaction is then processed through the MasterCard network in the normal manner for clearing and settlement. PayPass technology can be found in a number of different forms. PayPass cards include magnetic stripe technology, so the cards can also be used in the traditional manner anywhere MasterCard is accepted around the world. In addition to the wristband, PayPass technology can also be used in a number of other devices, such as a convenient payment tag that fits on a key chain for easy access, and in mobile phones.

MasterCard PayPass is ideal for traditional cash-heavy environments where speed is essential, such as quick serve restaurants, drug stores, gas stations, vending machines, convenience stores, sports arenas, movie theaters, transit systems and parking garages. There are currently approximately 10 million PayPass cards and devices in the market and nearly 32,000 merchant locations around the world accept PayPass, including 7-Eleven, CVS, McDonald's, Regal Entertainment Group theaters and many others. For more information about MasterCard PayPass and a full list of participating vendors, 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 14 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.
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Publication:Business Wire
Geographic Code:1USA
Date:Sep 5, 2006
Words:601
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