MasterCard partners Banamex to provide contactless payments in Mexico

MasterCard PayPass in Mexico

MasterCard has partnered with Banamex to introduce MasterCard PayPass to Mexico (view press release). PayPass is a contactless payment solution which will allow around one million Banamex credit and debit card holders to make purchases at around 12,000 merchant locations in Mexico City and its surrounding area. To make purchases, cardholders will need to tap their Banamex MasterCard PayPass credit or debit card on a specially equipped merchant terminal which then transmits the transaction data wirelessly. Merchants that will be able to accept this payment method include fast food restaurants, convenience stores, cafeterias and movie theatres. The PayPass technology is initially available for the Banamex Travel Pass, BSmart credit cards, and Perfiles debit cardholders depending on their credit history. Signatures will not be required for PayPass purchases of 250 pesos or less in all regions, except Europe or countries which have previously approved PayPass limits.

The Mexican market is in constant evolution and the needs of consumers are quite different in comparison to a few years ago.” said Antonio Junco, general director of MasterCard Mexico and Central America. “At MasterCard we are aware of the evolving needs of consumers and we are focused on being at the vanguard of electronic payments – developing and offering our customers and cardholders, platforms and innovative payment products that make their day-to-day lives easier.  PayPass is a clear example of a successful payment innovation launched in many countries around the globe and today we are excited to launch it in Mexico together with our partner Banamex.”

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