Minister of Culture Appoints Jihad Al-Khaldi as CEO of Music Commission    The Joint Forces Command of the Coalition to Restore Legitimacy in Yemen: Targeting and Destruction of Ballistic Missile Assembly, Storage and Launch Sites, and UAV Logistic Storage Facilities of the Terrorist Iran-backed Houthi Militia in Sanaa    Prince Sultan bin Salman praises KAU for obtaining an international award in empowering students with disabilities from UN    MAWANI Obtains ISO Certificate in Business Continuity    The Joint Forces Command of the Coalition to Restore Legitimacy in Yemen: Interception and Destruction of A Remote-Controlled Exploding Boat Launched by the Terrorist Iran-Backed Houthi Militia from Hodeida Governorate    Weather Forecast For Sunday    Saudi Press    Foreign Missions in Saudi Arabia Visit Shaybah Oil Field on Edge of Empty Quarter Desert    Under Patronage of Riyadh Deputy Governor, Future Projects Forum 2020 to Kick off Tuesday    Saudi Aramco Announces Receiving Approval for Al-Jafoura Giant Gas Field Development    Giroud on target as Chelsea claim vital win over Tottenham    Funded by Saudi Arabia and Russia, UN Launches Project to Prevent and Combat Illicit Trade in Small Arms and Light Weapons in Central Asian Region    HRH Crown Prince Congratulates Sultan of Brunei on National Day    AFC Champions League 2020: Al-Nasr Beats UAE Al-Ain    Al-Ta'awon of Saudi Arabia makes its second win to lead group C of Asia Champions 2020    Saudi Health Economics Experts Dialogue Forum Held in Riyadh    Tunis, Morocco, Madagascar and Mauritania each wins today's match in Arab Cup U 20    Organizers of Red Sea International Film Festival Disclose Details of the Program    14th Annual Conference of Infectious Diseases Kicks off in Jeddah    CEO of the Diplomatic Quarter General Authority Signs Several Contracts with a Group of Local and International Companies    Custodian of the Two Holy Mosques Addresses Citizens and Muslims on Eid Al-Fitr    Custodian of Two Holy Mosques addresses Citizens and Muslims on the Advent of Holy Month of Ramadan    Ministry of Hajj and Umrah Launches Awareness Message on Sacrifice Day    Custodian of Two Holy Mosques addresses the Saudi people and Islamic nation on the blessed Eid Al-Fitr    Newcastle Beat West Ham 3-0 for their first Win of the Season    Mourinho insists Ibrahimovic must be good enough for Manchester United    Reforms have saved the economy from possible recession, say analysts    The King and Crown Prince congratulates Moldova's President    More than 1,5 million pilgrims arrive in Saudi Arabia, so far    MWL allocates SR 7 million for Eid sacrifice project in 47 countries    Saudi Campaign provides educational and training services for Syrians in Al-Za'tari camp    Saudi student goes missing in Kentucky, US    Harvey lashes Texas US coast with high wind, torrential rain    North Korea tests short-range missiles as South Korea, US conduct drills    Samsung leader Jay Y. Lee given five-year jail sentence for bribery    Known days    "MODON" Signs MoU with Chinese Goldwind Company for wind-turbines manufacturing in the Kingdom    Flyadeal, Saudi Arabia's new low-cost airline, scheduled to launch on September 23, reports    Mastercard launches Masterpass in the Kingdom of Saudi Arabia    Honda among 27 Japan players named for World Cup qualifiers    Joker, Harley Quinn movie in works with 'Crazy Stupid Love' filmmakers    Madhuri Dixit to venture into Marathi films as a producer    Consumers warned against using some brands of face powder, hair products    How 'GOT' makers made the frozen lake in 'Beyond the Wall'    Shraddha Kapoor wants people to help the needy    Neymar targets improvement after phenomenal home debut    Politicizing the pilgrimage    Rakhi 2017: "Bond of Love" between a brother and his sister    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.





MasterCard PayPass posts record growth
Published in The Saudi Gazette on 12 - 02 - 2013

MasterCard Worldwide has announced record growth of its contactless payments technology, MasterCard PayPass, across the Asia/Pacific, Middle East and Africa (APMEA) region in 2012, citing a 28 percent (YoY) increase in merchant.
MasterCard's PayPass contactless payment network now boasts nearly 700,000 merchant locations in 51 countries as of Q4 2012. Growth data reflects a strong demand from consumers for fast and convenient alternative to cash for everyday purchases in region, including those in emerging markets like Vietnam, which this month launched contactless payments for the first time.
South Africa, Australia, Taiwan, South Korea, Singapore, New Zealand, and United Arab Emirates were credited as key contributors to growth in the APMEA region, and hotbeds for innovation in contactless payments.
In United Arab Emirates, MasterCard collaborated with Network International, the region's leading acquirer, to expand its contactless payments infrastructure, installing MasterCard PayPass terminals across more than 1000 stores in 2012, and paving the way for contactless mobile payments in the region.
In the Middle East, Fransabank's MasterCard PayPass Card won the "Best Contactless Innovation Award in the Middle East”. Bank Audi also launched the Bank Audi ABC MasterCard Credit Card, Lebanon's first co-branded card offered by a bank in collaboration with a prominent shopping mall, which offers PayPass technology to allow cardholders to Tap & Go as they make purchases in the mall.
In Australia, more than one-in-ten card transactions under $100 is now being made with PayPass. In Singapore, transactions made using PayPass at last year's Great Singapore Sale (GSS) grew 100-fold, with total spend up by more than 54 percent.
In New Zealand, all new consumer credit and debit cards issued are enabled with PayPass. Consumer-led demand for contactless technology drove uptake among the country's most popular retailers, including Bunnings, Kmart, The Warehouse, Resene, Repco, and BP.
Strong growth in merchant locations was made possible through strategic collaborations, including those with Coles and Woolworths supermarkets in Australia, NTT Docomo in Japan, and E.Sun Bank in Taiwan. Merchants are also seeing real impact to their bottom line. – SG


Clic here to read the story from its source.