Credit union to issue PayPass cards
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- September
- 17
MasterCard Inc., the Purchase-based credit card giant, announced that the Harvard University Employees Credit Union will be the first credit union to issue its PayPass payment cards.
PayPass is a system that allows consumers to tap their card or device on a special merchant terminal. That eliminates the need for retail clerks to swipe a card through a card reader.
Customers aren’t required to sign if the transaction is less than $25.
Members of the Harvard credit union include university employees, faculty, students, alumni and Harvard teaching hospitals.
There are more than 16 million PayPass cards and devices at more than 55,000 merchant locations worldwide, including restaurants, cafes, pharmacies and convenience stores near Harvard in Cambridge, Mass.
This entry was posted
on Monday, September 17th, 2007 at 5:03 pm by Jay Loomis.
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Category: Corporate doings
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