MasterCard Worldwide, Credicard, Citibank’s credit card administrator for the Brazilian market, and Redecard, Brazilian acquiring company, announced the launch of MasterCard PayPass, contactless payment technology, in Rio de Janeiro for public transportation and other quick service merchants. MasterCard PayPass is the first contactless payment product to be introduced for public transportation in Latin America.
Thousands of Credicard MasterCard cardholders in Rio de Janeiro will now be able to make purchases using contactless technology via a MasterCard PayPass key fob at the Pão de Açúcar (Sugar Loaf Mountain) lift, Supervia train stations, UCI cinemas, McDonald’s fast food restaurants and Estapar/Riopark parking lots located in Rio. Coming soon, MasterCard PayPass cards and devices issued in Brazil will also be accepted for use at the Rio de Janeiro Metro system.
For issuers and merchants, MasterCard PayPass provides differentiation and the possibility to reach a new segment. For merchants the technology allows them to function more efficiently and serve their customers by speeding check-processes, reducing cash handling and improving efficiency.
Recent MasterCard surveys have shown that contactless payment technology can reduce the time consumer spends waiting in line by 25%, an important finding given that the same survey revealed that only 21% of consumers want to spend more than 10 minutes in line for purchases under $25.