Mastercard To Cut Queues

Mastercard To Cut Queues

Friday 7th September 2007

Mastercard announced a new card this week which allows customers to purchase goods and services up to the value of £10 without needing to sign for the transaction or enter a pin number as authorisation. The new ‘Paypass’ system is being trailed in London ahead of its roll-out to the rest of the UK.

The Paypass function can be added to both credit and debit cards and customers will simply touch their card on a specialised reader to make purchases. For debit customers, the total amount of goods will be deducted from their bank account and for credit card customers the total will be added to their credit card statement.

To protect customers against fraud – consecutive transactions will be limited and it is thought at present that the most a thief could spend on a stolen card is £50.

It is hoped that the new card will become popular with small retailers such as newsagents and will cut down on queues especially during peak periods.