MasterCard has launched Latin America's first combined contactless transit and payments system in Rio de Janeiro.
Working with Citibank's credit card administrator in Brazil, Credicard, MasterCard is providing thousands of cardholders with key fobs that incorporate its PayPass contactless technology. Acquiring company Redecard has equipped participating merchants with contactless technology-enabled payment terminals.
The fobs can be used 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. The technology will also soon be extended to the city's metro system.
MasterCard says the technology benefits customers and merchants by speeding up the point of sale process and reducing cash handling. The firm says its surveys show contactless technology can reduce the time consumer spends waiting in line by 25%.
Max Chion, SVP, products and solutions, Latin America and Caribbean, MasterCard, says: "With MasterCard PayPass, consumers simply wave their card or device in front of a PayPass enabled terminal for those transactions valued at less than US$25, with no need to swipe the card or sign a receipt; making their buying experience simple, secure and fast."