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December 13, 2016

Mastercard and Pine Labs Collaborate on Safe, Secure and Speedy Contactless Payments in India

MasterCard Contactless

Photo: Transport for London: Commuter paying with a MasterCard contactless card. Touching a reader using a MasterCard contactless card as a safe, simple and smart way to pay. Image provided by & copyright © MasterCard News.

MasterCard Contactless

New Delhi, India - Mastercard has announced its partnership with Pine Labs, the largest payment facilitator for electronic Point of Sale (PoS) solutions in India to roll out more than 26,000 contactless terminals across the key merchant stores in the country over the next 12 months.

Powered by Mastercard contactless technology, the merchants across Quick Service Restaurants (QSR), retail stores, cinemas and super markets will now be able to offer contactless terminals as an alternative method of payment to customers, allowing them greater ease and convenience of payments. The contactless payments solution will also help merchants build greater efficiency in managing their costs and time by way of reducing check-out time at the counters and costs related to handling of cash.

Cashless transactions are on the rise, driven by increasing availability of contactless cards and introduction of new forms of payment technology in the country.

“Mastercard’s contactless technology offers cardholders multi-level protection coupled with speed and convenience. Mastercard contactless payments are accepted at more than 3 million merchant locations in 77 countries worldwide. Our partnership with Pine Labs will help us build a safe and secure contactless payments ecosystem in the country. This is aligned with Mastercard’s vision of a world beyond cash and using technology to make payments safer, simpler and smarter for the consumers.” said Murali Nair, Senior Vice President, Market Development, South Asia, Mastercard.

Mastercard has been at the forefront of driving contactless payments globally. Contactless payments allow customers to make everyday purchases by simply tapping their contactless-enabled card or device on a contactless-enabled reader. Contactless acceptance is an excellent choice for any merchant, especially in environments where speed and convenience are valued and cash is currently the dominant payment method, such as fast food outlets, supermarkets, quick-service restaurants, convenience stores, and vending machines.

More than 60,000 Retailers across India depend on Pine Labs to securely and reliably manage their Payment Acceptance. Pine Labs payment solutions simplify acceptance of all kinds of payments at PoS terminals, be it Credit/Debit Cards, EMI, Reward Points, Gift Vouchers, or e-Wallet.

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Edited & Posted by the Editor | 12:48 PM | Link to this Post

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