This is more than double the 20 million MasterCard devices issued by December 2007. According to MasterCard, recent data indicates that 41 percent of consumers use cash less often today than they did two years ago.
As of 4Q 2008, PayPass-enabled devices can be used today at over 141,000 participating merchant locations worldwide, including BP, Best Buy, 7-Eleven, CVS, McDonalds and Petco, among others. Seventy-seven percent of consumers that have a PayPass –enabled card or device use it as their primary form of payment, while 68 percent of cardholders who have used their PayPass-enabled card report that it enables them to use cash and checks less often, according to an US consumer benchmark study conducted in 2008. Respondents also expressed interest in using alternative PayPass form factors including tags (42 percent), key fobs (41 percent), and mobile phones (33 percent).In related news, US food and support services company Compass North America has partnered with MasterCard Worldwide to accept payments via MasterCard PayPass contactless cards at selected cafeterias across the US.
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