MasterCard Worldwide announced today that leading women's fashion retailer New York & Company is now accepting MasterCard PayPass contactless payment technology.
The specialty retailer has been serving customers for over 90 years and is recognized for its "NY Style at Great Deals." The company becomes the first national apparel merchant to accept MasterCard PayPass, and will accept the contactless payment technology at all of its 600 store locations.
"Obviously, we want to do everything we can to ensure that our customers have a seamless shopping experience," said Richard P. Crystal, chairman and CEO of New York & Company. "We are committed to providing the fashion-conscious, value-sensitive women who visit our stores with a fast and convenient way to pay. By accepting contactless payment technology, we are able to enhance the overall shopping experience by expediting the payment process."
PayPass contactless payments are designed to enable purchases that are quick, easy and secure. Customers simply tap their PayPass-enabled MasterCard card or device on a PayPass reader to make a purchase, eliminating the need to hand their card over to a cashier or fumble for cash. MasterCard PayPass also does not require customers to sign receipts for purchases under $25, further speeding up the transaction.
"MasterCard PayPass has seen widespread adoption in the retail sector and in merchant categories such as restaurants, convenience stores and taxis," said Denis Bouchard, group head, U.S. Merchant Product Sales, MasterCard Worldwide. "In accepting MasterCard PayPass, New York & Company recognizes that customers seek speed and convenience when purchasing apparel, and will help enhance the overall experience within its stores."
According to MasterCard research, consumer preference and satisfaction is driving PayPass growth and usage globally. A 2007 MasterCard PayPass Benchmark Study found that about 90 percent of PayPass-using respondents were satisfied with their experience, and 71 percent of PayPass consumers said they use PayPass as their primary card for everyday purchases.