California Coast Credit Union to Issue MasterCard® PayPass™ Debit Cards
July 24, 2009
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providing members with MasterCard® PayPass™ contactless payment technology on its debit
cards. The PayPass-enabled cards offer California Coast Credit Union’s cardholders a faster,
secure way to pay and a more convenient shopping experience by enabling Tap & Go™
payments.
To use the feature, California Coast Credit Union members simply tap their PayPass-enabled
debit cards on a specially equipped merchant terminal. PayPass allows payments to be
completed quickly, securely and easily, without the hassle of swiping a card or fumbling for cash
and coins. Signatures are not required for PayPass purchases under $25, further speeding a
cardholder’s transactions. PayPass cards also include traditional magnetic stripes so they can be
used anywhere MasterCard cards are accepted.
In partnership with its card processor TMG (The Members Group), California Coast Credit Union
began providing new members with PayPass-enabled debit cards in July 2009 and will begin
replacing many other existing members’ debit cards with PayPass-enabled debit cards.
“MasterCard PayPass is a great example of California Coast Credit Union’s commitment to
continually enhancing our services and offerings to bring added value and convenience to our
members,” said Millie Garland, AVP of Support Services. “MasterCard PayPass is simpler and
faster than cash, enabling our cardholders to enjoy a quicker, more convenient payment option.”
According to MasterCard research, consumer preference and satisfaction is driving PayPass
growth and usage globally. About 94 percent of PayPass-using respondents to a 2008
MasterCard PayPass Benchmark Study were satisfied with their experience, and 77 percent of
PayPass consumers said they use PayPass as their primary card for everyday purchases.
“Cardholders quickly embrace the added convenience that MasterCard PayPass delivers. Once
they ‘tap and go’ they tend to use their MasterCard PayPass cards regularly, and to gravitate
towards those merchants that accept it,” said Cathleen Conforti, Senior Vice President and Global
PayPass Product Manager, MasterCard Worldwide. “California Coast Credit Union’s decision to
issue MasterCard PayPass will provide it with a competitive differentiator that appeals to their
members looking for a financial institution that helps simplify their lives.”
About MasterCard PayPass
MasterCard PayPass is ideal for traditional cash-heavy environments where speed is essential,
and has led the way in bringing contactless technology to consumer categories such as quick
serve restaurants, drug stores, gas stations, vending machines, convenience stores, sports
arenas, movie theaters, transit systems, taxis, parking garages and more. As of 1Q09 there are
nearly 55 million PayPasscards and devices in use at more than 146,000 merchant locations
including participating BP, Best Buy, 7-Eleven, CVS, McDonald’s, Petco and many
others. PayPass also is accepted at numerous professional football and baseball stadiums. For
more information about MasterCardPayPass and a full list of participating merchants, visit www.mastercard.com/paypass.
About MasterCard Worldwide
About
Established in 1929, California Coast Credit Union is
140,000 members and close to $2 billion in assets. With a network of nearly 25 branches,
nationwide and a national “shared branch” network, providing members with quality, convenient
and secure financial services. For more information, please visit California Coast Credit Union at
About TMG
TMG is a wholly-owned subsidiary of the Affiliates Management Company, which is owned by
(CUSO), TMG is dedicated to providing innovative and flexible card processing and payment
solutions to credit unions and financial institutions across
include credit, debit, ATM and a variety of prepaid solutions, as well as online reporting, item
processing, ACH and ALM services. TMG’s prepaid card products are branded ATIRA. For more
information, visit www.TheMembersGroup.com.
