Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Consumer-led demand for contactless technology

Kiwi retailers recognising benefits of PayPass ‘Tap & Go’

Consumer-led demand for contactless technology driving uptake among popular New Zealand retailers.

AUCKLAND – December 13, 2012 – MasterCard cardholders are expected to quickly and enthusiastically embrace MasterCard® PayPass™ as some of New Zealand’s most popular retailers install ‘Tap & Go’ terminals in the lead-up to Christmas.

The milestone increase in merchants is a reflection of strong demand from Kiwi consumers for faster and secure ways to make everyday payments.

PayPass is MasterCard’s contactless payment system, specifically aimed at replacing low-value purchases where consumers would usually pay with cash. The technology allows cardholders to simply and securely tap their PayPass-enabled MasterCard against a retailer’s PayPass point-of-sale terminal to authorise purchases for transactions under $80, without the need to enter a PIN or provide a signature. Transactions over $80 can still be tapped, cardholders simply enter a PIN or sign to authorise their purchase.

Organisations including Air New Zealand, ASB, ANZ, BNZ, Kiwibank, Westpac and The Warehouse Financial Services have already recognised the benefits of PayPass and are issuing MasterCard PayPass-enabled cards.

As a result, there are now a growing number of PayPass-enabled MasterCard cards in New Zealand and several thousand merchant terminals where PayPass can be used to pay including Bunnings, Kmart, The Warehouse, Resene, Repco, and BP. Many more Kiwi retail chains are also recognising the benefits of PayPass as a quick and convenient way to pay and will be rolling out PayPass-enabled terminals over the coming months.

MasterCard New Zealand Country Manager, Albert Naffah said: “New Zealanders are typically early adopters of technology. As more retailers install PayPass terminals, consumers here are being quick to ‘tap-and-go’ and make use of this smart, secure and convenient way of paying.

“Using PayPass puts both merchants and cardholders in the fast lane to convenience for the small but important purchases where customers don’t have the time or desire to stand around waiting.

“We truly believe that contactless is the best way to make and accept payments – it’s quicker and more convenient for consumers, and allows merchants to accept more payments at peak sales times. It helps reduce the delays caused by queuing or searching for change and, with consumers already noticing the benefits, we believe it will be available across a larger number of retailers in the next couple of years.”

“As we head into the busy Christmas shopping period, we expect to see PayPass terminals helping ease those long shopping queues as they are become commonplace at major retailers including The Warehouse, Kmart, BP and Bunnings.”

MasterCard’s contactless terminal technology is paving the way for secure and convenient mobile applications that are increasingly popular – especially with younger consumers. PayPass makes it faster and easier to make purchases online or through a smartphone by allowing consumers to securely pay with a simple tap, and the contactless terminal infrastructure that is being installed within New Zealand is paving the way for other mobile application technology within the payments sector.

“Kiwis had a taste of PayPass during the Rugby World Cup 2011, when PayPass terminals were installed in Eden Park, Westpac Stadium and Forsyth Barr Stadium for ease of transaction during games. We’re seeing consumers increasingly recognise the benefits of contactless payments and using PayPass more frequently as an alternative to cash,” said Mr Naffah.

In Australia, more than one-in-ten card present transactions under $100 are made with PayPass.

“While New Zealand retailers have been slower to adopt the technology than the Australian market, we’re seeing Kiwi consumers pick-up the technology quicker than their Australian counterparts, which in turn will help drive the uptake with retailers,” said Mr Naffah.

A core component of Roadmap is MasterCard’s commitment to continued innovation in the payments industry, with PayPass recognised as the most Innovative Card and Payment Product of the Year in the financial services industry at the 2011 Australian Banking and Finance Awards.

Ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Half Full: Dairy Payouts Steady, Cash Will Be Tight

Industry body DairyNZ is advising farmers to focus on strong cashflow management as they look ahead to the 2015-16 season following Fonterra's half-year results announcement today. More>>

ALSO:

First Union: Cotton On Plans To Use “Tea Break” Law

“The Prime Minister reassured New Zealanders that ‘post the passing of this law, will you all of a sudden find thousands of workers who are denied having a tea break? The answer is absolutely not’... Cotton On is proposing to remove tea and meal breaks for workers in its safety sensitive distribution centre. How long before other major chains try and follow suit?” More>>

ALSO:

Scoop Business: NZ-Korea FTA Signed Amid Spying, Lost Sovereignty Claims

A long-awaited free trade agreement between New Zealand and South Korea has been signed in Seoul by Prime Minister John Key and the Korean president, Park Geun-hye. More>>

ALSO:

PM Visit: NZ And Viet Nam Agree Ambitious Trade Target

New Zealand and Viet Nam have agreed an ambitious target of doubling two-way goods and service trade to around $2.2 billion by 2020, Prime Minister John Key has announced. More>>

ALSO:

Scoop Business: NZ Economy Grows 0.8% In Fourth Quarter

The New Zealand economy expanded in the fourth quarter as tourists drove growth in retailing and accommodation, and property sales increased demand for real estate services. More>>

ALSO:

Scoop Business: RBNZ’s Wheeler Keeps OCR On Hold, No Rate Hikes Ahead

The Reserve Bank has removed the prospect of future interest rate hikes from its forecast horizon as a strong kiwi dollar and cheap oil hold down inflation, and the central bank ponders whether to lower its assessment of where “neutral” interest rates should be. The kiwi dollar gained. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news