Banamex to launch PayPass contactless in Mexico

Source: CPI Card Group

CPI Card Group - Colorado, Inc. announced today it has partnered with Keycorp Limited to manufacture MasterCard's PayPass contactless cards for Banamex Financial Group.

The issued cards will be introduced into McDonald's fast food outlets throughout Monterrey, Mexico. This joint effort will mark the first PayPass program launched in Latin America and will put Banamex in the lead of contactless card issuers in Mexico.

"Everyday we use cash for low amount transactions; with this technology we expect to penetrate more on this segment, complementing the actual benefits of our cards and maintaining high security levels," states Antonio Perdomo, Credit Cards Director at Banamex.

MasterCard PayPass provides consumers with a fast and convenient alternative to cash for their everyday small purchases. Consumers simply tap their PayPass-enabled card or device on a specially equipped merchant terminal. Signatures are not required for PayPass purchases, further speeding customer's transactions. In addition, PayPass also provides better record keeping than cash.

"CPI is happy to use our extensive experience in the contactless card industry in partnership with such an issuer as Banamex," states Benoit Guez, Vice President of Smart Cards and International Sales at CPI Card Group. "We are honored to have been selected by Banamex for its pilot program using the Keycorp technology."

The contactless card, manufactured by CPI, will use utilize the dual interface chip with the MULTOS operating system developed by Keycorp and will be the first PayPass EMV card issued in Latin America.

"PayPass continues to gain strong momentum worldwide through various successful programs in the US, Canada, the UK, Asia and Australia," said Ricardo Leon, vice president of Advanced Payments for MasterCard Worldwide Latin America and Caribbean region. "Now, with over 10 million PayPass cards circulating around the world, MasterCard together with Banamex and McDonald's, brings PayPass to Mexican consumers who for years have been highly receptive to innovative payment technologies," Leon concluded.

Personalization of the cards will occur in the in-house burreau of Banamex. POS terminals will be installed at all McDonald's throughout the city of Monterrey.

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