The revolutionary PayPass-enabled debit cards provide Key cardholders with the ability to "tap and go" for a faster, secure way to pay and a more convenient shopping experience.

Equipped with a radio frequency chip, the Key MasterCard PayPass debit card allows cardholders to speed through checkout by paying with a simple tap of the card on specially equipped merchant terminals. Debit cards utilizing PayPass technology eliminate the need for consumers to search for cash or coins, hand over their debit card to a clerk or swipe it themselves through a merchant terminal.

"Key has long been a leader in technology innovation that enhances our customers' financial needs, and we are excited to offer PayPass as a way for them to have even faster access to their money," said Carl Stauffeneger, SVP, product management, Key Consumer Product Development. "Radio frequency technology is the way of the future in payments and we are pleased to be first to introduce our customers to MasterCard PayPass debit cards, which utilize this technology. Our consumer and small business debit MasterCard cards, as well as our KeyMiles reward debit MasterCard cards, will be equipped with the new PayPass technology."

"MasterCard PayPass is simpler and more convenient than cash, thereby moving consumers through the checkout process faster," said Cathleen Conforti, Global PayPass Product Manager, MasterCard International. "PayPass also provides consumers with the flexibility and security they have come to expect when making everyday purchases with a MasterCard card."

Key will be replacing its existing cardholders' debit cards with PayPass- enabled debit cards beginning September 1. All new Key customers will receive a PayPass-enabled debit card when they open a checking account.

An additional partner in making PayPass technology available to Key customers is Axalto, the world's leading provider of microprocessor cards (Gartner 2005).

PayPass cards, like other traditional MasterCard cards, also include magnetic stripe technology, so cardholders can use the cards anywhere MasterCard is accepted around the world.