Gemplus unveils PayPass contactless payments offering
The smart card solutions provider Gemplus International has launched its 'GemInstant PayPass' solution for contactless payments, which has also received full certification from MasterCard International.
GemInstant PayPass uses contactless technology to simplify payment for small value transactions in venues where speed is essential. It consists of a MasterCard payment card with a built-in chip and antenna that uses a short range RF signal to securely transmit account details.
National growth According to MasterCard, merchant and consumer interest in MasterCard PayPass in the US continues to grow, with an increasing number of merchants and other commercial partners agreeing to accept the contactless payment programme. These already include McDonald's, Regal Entertainment Group movie theatres, CVS pharmacies, and 7-Eleven and Sheetz convenience stores, as well as several sporting arenas. J.P. Morgan Chase & Co. has also recently announced plans to issue cards powered by MasterCard PayPass.
Certification GemInstant PayPass achieved all of the MasterCard PayPass approval requirements on 30th June 2005, and the cards will be produced at Gemplus' card manufacturing facility in Pennsylvania, USA, starting this month.
According to Philippe Combes, Gemplus' executive vice president of operations and financial services, "We see huge growth opportunities in the contactless market worldwide. Banking, retail, transportation, and government sectors are all considering various contactless technologies because of the improved speed and efficiency at terminals and reduced maintenance costs."
More Info: