Contactless - "Tap & Go" Regina SK

Your car is low on gas and you are in a rush to get to work. You hurry to the gas station and fill-up. Instead of running into the store and lining u ...

Partners In Planning
(306) 347-4477
2330 15Th Avenue
Regina, SK
 
Partners In Planning
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302 University Park Drive
Regina, SK
 
Scotiabank
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Regina, SK
 
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2907 13Th Avenue
Regina, SK
 
Canadian Western Bank - Regina
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Regina, SK
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Penelope Parsons
(306) 949-0153
1848 Mcara Street
Regina, SK
 
Scotiabank
(306) 780-1230
1504 Albert Street
Regina, SK
 
Mgi Securities
(306) 525-2561
1842 Scarth Street
Regina, SK
 
Scotiabank
(306) 780-1275
4110 Albert Street
Regina, SK
 
Stone Creek Financial Group
(306) 543-2448
374 University Park Drive
Regina, SK
 

Contactless - "Tap & Go"

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(NC)-Your car is low on gas and you are in a rush to get to work. You hurry to the gas station and fill-up. Instead of running into the store and lining up to pay for your gas, you use your credit card and simply "tap" it against a payment reader, which is conveniently located at the pump and the transaction is confirmed within seconds - less than half the time of a cash transaction. No waiting, no fuss, and you never let go of your card. The best part is, these new contactless cards are available today and can be used at thousands of retail locations across the country.

Contactless cards are processed through the same financial payments networks that process millions of magnetic stripe transactions securely. The primary difference is that contactless cards have the added feature of radio frequency (RF) technology to transmit card information to the merchant's payment terminal, instead of requiring a magnetic stripe to be swiped or inserted. Contactless functionality can be simply added to the regular features and functions of a payment card, so consumers have the choice to use either the contactless or traditional functionality of their card when making purchases.

The MasterCard PayPass contactless technology is designed to allow consumers to make small ticket purchases by simply "tapping" or touching their card onto a retailer's payment terminal. PayPass transactions are faster than paying by cash and designed for busy merchant environments like quick-serve restaurants, concessions stands, gas stations, the cinema, and drive-thrus. In Canada, PayPass can already be used at Tim Hortons restaurants, Petro Canada gas stations, and Cineplex Entertainment movie theatres to name a few.

"By opening the door to contactless payment, MasterCard is creating a whole new world of options for merchants and consumers," said Kevin Stanton, President of MasterCard Canada. "For example, MasterCard PayPass delivers a 15 to 20 per cent reduction in wait-time in stores, and a 40 per cent reduction in wait-time at drive-thrus and quick-service restaurants."

In other parts of the world the power of PayPass contactless payment has proven so popular that it is already being introduced into other formats, including the world's first soccer-themed watch equipped with MasterCard PayPass in Europe. Only time will tell when we might see similar applications in Canada.

For more information on PayPass please visit www.mastercard.ca.

Credit: www.newscanada.com