MasterCard paypass system should prove popular : Credit Card Guide

MasterCard paypass system should prove popular

Recent research has revealed that many consumers decide against making small purchases such as food items or drinks if they have no loose change on them, as they do not want to break into a note.

However, according to many experts this will all change when the MasterCard Paypass system is rolled out across the UK. This is a contactless card systems that allows consumers to make smaller purchases of £10 or less without having to enter any pin number or provide a signature.

The paypass system has already been introduced in some parts of London, and is due to be rolled out to the rest of the city over the coming month, state officials. The scheme will then be rolled out to other parts of the UK next year. With the paypass system consumers will be able to make smaller purchases such as food or drinks with their cards, and the money will be debited from their banks accounts or added to their credit card balances.

A number of retailers have already signed up to accept payment by these cards, which will allow consumers to pay simply by touching the card against a special reader that will be installed at participating retailers. Amongst the retailers to sign up to the system are McDonalds and Coffee Republic. It is thought that this type of cashless and contactless systems could improve custom for participating retailers as well as improve convenience for consumers.

Barclays has also launched a similar card system known as One Pulse. Many experts see these cards as ideal for those wishing to make small purchases without having to scrabble around for change or break into notes.

Tom Smith
16th October 2007

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