MasterCard Australia has announced that more than 1 million contactless PayPass transactions were recorded during the month of August.
According to Insider Retailing, this marks the first time that PayPass “Tap and Go” payments have surpassed the 1 million transaction milestone since the technology was introduced in Australia several years ago, indicating growing acceptance of contactless payments.
Insider Retailing estimates that there are 7 million PayPass enabled cards in use nationwide, issued by a number of major financial institutions including Commonwealth Bank of Australia, ANZ Bank, Bankwest, Macquarie Bank, HSBC, GE Money, ME Bank and Westpac.
Customers can use their PayPass cards at some 42,000 merchant terminals nationwide, including JB Hi-Fi, Bunnings, 7-Eleven, Caltex, Dymocks and McDonald’s.
According to MasterCard Australia country manager, Andrew Cartwright, the “strong and sustained growth” exhibited by the numbers demonstrates high demand for PayPass transactions.
MasterCard projects that all Australian MasterCard credit and debit cards will be PayPass-enabled by April 2014, as well as payment terminals at most major supermarkets, convenience stores, service stations, taxis and other retail points.
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