April 05, 2006
MasterCard's PayPass contactless payment technology on trial in Australia
Mastercard is launching its contactless payment technology in countries around the world in an incremental fashion. Now Australia joins the ranks. The Commonwealth Bank of Australia (CBA) will try out MasterCard's PayPass contactless payment technology as an alternative to low-value cash payments.
Around 35,000 CBA customers in New South Wales (NSW) will take part in the six-month trial. The customers of the bank can use the contactless payment cards at more than 150 merchants to pay for purchases under $35.
The new 'tap-n-go' technology promises to enable hassle-free small credit card transactions. Soon, we will not need to carry cash for small purchases.
Via Finextra
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