MasterCard PayPass
Posted November 27th, 2009 and last modified May 17th, 2011
With one pass within a Paypass reader, the MasterCard Paypass can secure financial transactions and prevent credit card frauds.
MasterCard PayPass is a relatively new credit card payment system that is currently been introduced in Australian shops. Learn how MasterCard PayPass works, and how it can be used to speed up transactions.
MasterCard PayPass is a new credit card system that operates as part of a normal credit card. It involves passing your credit card within 5cm of a PayPass reader at a merchant checkout without having to input a PIN or verify by signature on a regular swipe machine. As checks do not take place, it can only be used for purchases of $35 or under.
A PayPass credit card looks just like any other credit card except that it will carry the PayPass logo and there is a special chip and RFID antennae embedded in the plastic. RFID stands for Radio Frequency Identification and it is the same technology that allows stores to tag items for theft prevention and inventory monitoring.
Visa PayWave Contactless Credit Cards Comparison
MasterCard PayPass Contactless Credit Cards Comparison
Everything else about your MasterCard PayPass credit card will remain the same – your account number, credit limit, interest rate, fees, awards programs, account linkages and all your other benefits – only now you will be able to “Tap & Go” at a checkout. You simply pass your card in front of the contactless scanner, wait a moment for a beep and a green light, the merchant will then input your purchases, and your transaction will be authorised. If you only have one PayPass card in your purse or wallet, you may not even have to remove the card from its slot; you may be able to pass your wallet or purse in front of the reader.
To make things even easier, you may also be issued with a MasterCard PayPass key fob or payment tag, which is a special device that you can attach to your key chain. This is a small, plastic fob or tag that contains the same contactless computer chip and radio frequency antennae as your regular credit card.
Although PayPass is becoming a standard feature on many MasterCards, using it is optional. You can still opt to use the traditional swipe machine, and verify with either signature or PIN. There is no cost involved in having this extra technology in your credit card.
If you ever have to return an item for a refund, your card does not have to be passed by a MasterCard PayPass reader for the refund to take place even though the purchase may have been made that way. Purchases appear on your credit card statement as swiped purchases always do, and refunds can be made via a swipe machine as well.
Even though the PIN/signature verification procedure has been removed when using PayPass, MasterCard’s zero-liability guarantee still stands so you will not be held liable for any fraudulent use of the card, no matter how it may happen. This is one of the reasons that the $35 limit is in place – to prevent expensive, unverified purchases from taking place.
MasterCard PayPass is a neat way to speed up your small-purchases shopping.
Image source: dahlstroms
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Through my choice I have no pin no. I was unable to make a purchase at the local IGA as their machine is pin no. only on credit cards. I have been unable to find locations, on the internet, in Wynnum/Manly that have paypass. Are you able to help