MasterCard and USA Technologies to Expand MasterCard® PayPass? Deployment to Include Cadbury Schweppes
PURCHASE, NEW YORK, December 21, 2006 - MasterCard Worldwide and USA Technologies (OTC Bulletin Board: USAT) announced today that Cadbury Schweppes Americas Beverages (CSAB) will equip vending machines in several U.S. markets with the e-Port® cashless transaction solution to begin accepting all major credit cards, including those enabled with MasterCard® PayPass? contactless payment functionality.
CSAB, whose brands include Dr Pepper, 7UP, Snapple, A&W Root Beer, Hawaiian Punch, Canada Dry, Mott's and numerous others, is working with MasterCard and USA Technologies to enable as many as 1,000 Dr Pepper and Snapple vending machines in Dallas, New York and Chicago to accept credit card payments.
"At Cadbury Schweppes, we are dedicated not only to creating brands people love, but also to seeking better ways to get those brands in the hands of our consumers," said Mark Jackson, Vice President of Cold Drink Equipment & Equity for CSAB. "Convenience is a driving factor in consumer purchasing decisions and credit cards are becoming a preferred method of payment for purchases at all price levels, even those under $5. The e-Port cashless transaction solution makes purchasing our popular soft drinks, teas and juices from our vending machines easier and more convenient than ever."
USA Technologies reports that Dr Pepper and Snapple Bottlers are leading the vending industry by adopting the latest technology to enhance the consumer's purchasing experience.
"MasterCard applauds innovators like Cadbury Schweppes who are embracing the latest technology to provide their customers with more payment options and convenience," said T.J. Sharkey, Group Head, National Accounts, U.S. Commerce Development, MasterCard Worldwide. "MasterCard PayPass is providing greater speed, ease and convenience for consumers making purchases from vending machines, while driving greater opportunity for vending operators to improve efficiencies and generate increased revenues," he said.
Consumers no longer need cash and coins. To use the e-Port cashless payment technology, consumers simply tap their MasterCard PayPass-enabled credit card or device on the e-Port terminal. Within seconds, the terminal will flash a light and produce a tone signaling the transaction is complete. As with all MasterCard PayPass transactions under $25, no signature will be required. The terminals will also accept traditional magnetic-stripe credit cards.
"In teaming with MasterCard, USA Technologies is creating value through innovation, evolving our e-Port product line to quickly meet rapidly emerging market trends in vending and unattended POS terminals," said George R. Jensen, Jr., Chairman and CEO, USA Technologies. "A recent Ipsos Insight and Peppercoin survey found that 42 million Americans were willing to use a card when making a purchase from a vending machine, and 42 million had used their card to purchase a beverage, confirming that consumers are willing to use cards for small purchases if the cashless option is available."
The Cadbury Schweppes installations are the first of a total 5,000 self service point-of-sale terminals and vending machines Master Card and USA Technologies are deploying in 12 cities across the United States, including Las Vegas, San Francisco, Los Angeles, Boston, Denver, Seattle, Miami, Orlando and Washington, D.C.
The 5,000 machines will be installed over the next several weeks and represents the largest rollout of contactless technology in the vending and POS markets. MasterCard PayPass uses radio frequency technology to transmit payment details wirelessly between the PayPass device and the merchant's terminal. The transaction is then processed through the MasterCard network for clearing and settlement. PayPass cards include magnetic stripe technology, so the cards can also be used in the traditional manner anywhere MasterCard is accepted around the world. PayPass technology can also be used in a number of non-card devices, such as a convenient payment tag that fits on a key chain for easy access.
MasterCard PayPass uses radio frequency technology to transmit payment details wirelessly between the PayPass device and the merchant's terminal. The transaction is then processed through the MasterCard network for clearing and settlement. PayPass cards include magnetic stripe technology, so the cards can also be used in the traditional manner anywhere MasterCard is accepted around the world. PayPass technology can also be used in a number of non-card devices, such as a convenient payment tag that fits on a key chain for easy access.
With no signatures required for transactions below $25, MasterCard PayPass? has achieved widespread acceptance in environments that place a premium on speed and convenience, such as quick-serve restaurants, drug stores, gas stations, vending machines, movie theaters and parking garages. There are currently 11 million PayPass cards and devices in use at more than 36,000 merchant locations worldwide, including participating 7-Eleven, CVS, McDonald's, Regal Entertainment Group theaters and many others. There are numerous PayPass related programs currently under way in 13 countries, including the United States, Canada, United Kingdom, Japan, Korea, China, Thailand, Turkey, Lebanon, Malaysia, Australia, Taiwan and the Philippines, with more anticipated in 2006 and 2007. For more information about MasterCard PayPass and a full list of participating merchants, visit www.mastercard.com/paypass.
MasterCard Worldwide advances global commerce by providing a critical economic link between financial institutions, businesses, cardholders and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes close to 14 billion payments each year, and provides industry-leading analysis and consulting services to financial institution customers and merchants. Through its family of brands, including MasterCard®, Maestro® and Cirrus®, MasterCard Worldwide serves consumers and businesses in more than 210 countries and territories. For more information go to www.mastercardworldwide.com.
With the exception of the historical information contained in this release, the matters described herein contain forward-looking statements that involve risk and uncertainties that may individually or mutually impact the matters herein described, including but not limited to product acceptance, the ability to continually obtained increased orders of its products, the ability to meet installation goals, economic, competitive, governmental impacts, whether its pending patents will be granted or defendable; validity of intellectual property and patents of USA, the ability of USA to license its patents, the ability of USA to commercialize its developmental products, technological and/or other factors, which could cause actual results or revenues to differ materially from those contemplated by these statements.