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Secure Transactions News

More than 20 million PayPass issued

Thursday 10 January 2008

PayPass rollouts and trials have been announced in Australia, Canada, China, France, Indonesia, Italy, Japan, Korea, Lebanon, Malaysia, Mexico, the Philippines, Spain, Switzerland, Taiwan, Thailand, Turkey, the United Arab Emirates, the United Kingdom and the United States.

MasterCard announced the results of a Global Cash Usage Survey conducted in 2007 in 13 countries by KRC Research and commissioned by MasterCard Worldwide, with the following findings:

  • A majority of respondents (56%) believe that one day the world will be a cashless society where credit and debit cards will replace cash and checks for payments
  • 75% of respondents believe that it is no longer necessary to have lots of cash on hand
  • Two-thirds of respondents (66%) use cash less often than five years ago to make purchase
  • About half of respondents (49%) are likely to use a contactless card if provided by their financial institution