Union Bank offers MasterCard PayPass
14 March, 2008
category: Contactless, Financial
San Francisco-based Union Bank of California N.A. is offering its customers MasterCard PayPass contactless payment technology on their debit cards.
To use the feature, Union Bank customers tap their PayPass-enabled debit cards on a PayPass reader at the point of sale of participating merchants. For transactions under $25, many merchants don’t require customers to sign a receipt. To signal a customer’s purchase is complete, the reader will flash a light and produce a tone sound. The Union Bank of California Debit MasterCard PayPass card also has a traditional magnetic stripe and can be used anywhere Debit MasterCard cards are accepted.
Beginning March 17 in the Los Angeles market, 100,000 Union Bank Debit MasterCard cardholders will be issued replacement cards equipped with PayPass technology. The rollout will continue statewide until almost 1 million Union Bank debit cardholders eventually receive them. The card will automatically be issued to all new debit customers.