MasterCard International has launched MasterCard SideCard, a mini payments card that is small enough to fit on a key ring.
MasterCard says the compact-sized payments card, which has a case attached to a key ring, is a companion to its traditional-sized cards and works in swipe terminals at the point of sale. The SideCard is the first companion card capable of incorporating MasterCard's contactless chip technology, PayPass.
John de Lavis, executive vice president, global product development, MasterCard International, says: "The MasterCard SideCard provides enhanced speed and convenience at the point-of-sale by taking the payment card - complete with all of the same qualities and service MasterCard cardholders have come to count on - out of the wallet and onto a key chain."
MasterCard says its research inidicates there is strong consumer demand for the SideCard, as more than one-third of cardholders expressed a positive interest in acquiring a mini card either as a new card or an add-on to an existing card.
Banamex (Citibank Mexico) has become the first financial institution to offer the MasterCard SideCard package to customers under the name of Banamex Twin Card.