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10/11/2010 -
Kinecta Federal Credit Union recently announced that it will offer MasterCard PayPass contactless payment technology on its credit cards.Consumers who are Kinecta cardholders can now use the PayPass Tap N Go feature, which allows members to tap their credit cards at specially equipped point-of-sale terminals.
"By introducing PayPass, Kinecta is providing cardholders with access to the increased speed, convenience and flexibility in payment options that they're looking for," said Cathleen Conforti, senior vice president for Global PayPass at MasterCard Worldwide.
Payment processing can be completed quickly and securely with PayPass without swiping a card. In addition, signatures are not required for transactions under $50. A 2008 MasterCard PayPass Benchmark Study shows that 84 percent of users were satisfied with their experience, and 77 percent of respondents said they used PayPass as their primary card for everyday purchases.
There are more than 50 million MasterCard PayPass cards worldwide, with 141,000 merchants offering point-of-sale terminals that can accommodate tap-and-go transactions. The technology has been widely used in Europe and North America, and the Australian market has recently begun using the card in higher numbers.
