All About Mastercard PayPass

By BankBazaar | May 12, 2017

All About Mastercard PayPass

With the government’s vision of a cashless and digital India in full swing, Credit Card companies have been upping their game in recent times to provide enhanced features and security to their customers.

Innovation has certainly been the name of the game over the last few years, with Credit Card giant Mastercard unveiling its contactless payment feature called PayPass.

Additional Reading: 5 Credit Cards For All You Extroverts Out There

What Is PayPass?

PayPass is a contactless payment technology introduced by Mastercard wherein cardholders can make quick and protected payments without the hassle of entering their PIN. In order to make a purchase with this feature, all you have to do is go to a contactless payment terminal and tap your card. In essence, it eliminates the need to swipe your card or enter your PIN every time you buy something.

Advantages of PayPass

PayPass offers cardholders several benefits:

  • Cardholders will not need to swipe their card to make purchases
  • PIN details are not required to be entered
  • Through the ‘Tap and Go’ feature, cardholders can make purchases at any outlet that has a PayPass terminal or device
  • It is far more convenient than carrying cash since all payments can be made via the customer’s Mastercard or Maestro account
  • Customers won’t have to wait in long queues to make purchases
  • You can make payments using PayPass through your mobile or computer as well

Additional Reading: Going Cashless: Here’s What You Should Know

How Does PayPass Work?

Since PayPass aims to make things as simple and convenient as possible for the customer, the way it functions is similarly simple in nature.

PayPass makes use of a computer chip that is embedded in your Credit Card. When making a purchase, your card sends out details to the contactless card reader at the checkout or terminal via an antenna that emits radio frequencies.

You won’t have to worry about making the same payment twice since every payment you make via PayPass gives you a unique and distinct code. After tapping your card against the reader you will see a green light followed by the sound of a beep, which lets you know that your purchase is successful and the payment has been made.

If you thought that was easy enough, Mastercard has gone one step further by issuing Mastercard PayPass key fobs and payment tags, which come with the same contactless technology features. These devices can be fastened to anything you choose, like a keychain, for example, nullifying the need to get your card out at all.

You could even download the Mastercard PayPass app on your smartphone to make payments without having to use your card or enter any PIN details.

Additional Reading: ‘Contactless’ – A New Digital Payment Method

How Safe Is MasterCard PayPass?

Mastercard has ensured that it has left no stone unturned to provide maximum security to cardholders. In that sense, it has employed a slew of security features and measures to protect any contactless payments made via PayPass.

Since you have to hold up your card or PayPass-enabled device at the contactless terminal, your payment is made without you having to swipe your card or enter any PIN details. This eliminates the chance of falling prey to fraudulent card machines.

Since every purchase you make produces a distinct code that is completely encrypted, you can be assured that you will be charged just one time when you make your payment, eliminating the possibility of a duplicate payment.

Mastercard also offers zero-liability guarantee wherein you will be reimbursed in case any fraudulent or suspicious activity is detected on your card. In the event your card is stolen or misplaced, it will be frozen or cancelled as soon as you get in touch with the bank that issued your card.

Additional Reading: 10 Smart Ways To Avoid Credit Card Fraud

To sum it all up, Mastercard PayPass offers cardholders simplicity and convenience when making purchases through their Credit Card. While this technology is most certainly safe and secure, it is advisable for cardholders to be responsible enough to keep it safe at all times and to use it responsibly.

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Category: Credit Cards Technology

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