| MasterCard offers programs and solutions that can help you grow your business today and into the future. MasterCard's latest offerings are designed to build customer satisfaction, generate increased sales and encourage consumer spending. Please read about our Quick Payment Service (QPS), MasterCard PayPass® , M/Chip, and Co-Brand programs to learn how MasterCard can help you.
1) MASTERCARD QUICK PAYMENT SERVICE (QPS)
MasterCard Quick Payment Service (QPS) is a program that allows a merchant to process a MasterCard card transaction without requiring a signature or receipt (although a receipt is always available as an option if the customer requests it). The cardholder hands over his or her card. The merchant swipes it and returns it. That's it. Transaction complete. QPS simplifies the payment process when accepting small-ticket MasterCard transactions under the pre-specified floor limit.
Merchant Benefits:
- Chargeback protection — An issuer cannot chargeback a below-the-floor-limit transaction for: non-receipt of item, requested item illegible, or fraudulent transaction.
- Increased sales — Customers are no longer restricted by cash on hand, so they tend to spend more and are satisfied by the increased speed of the transaction.
- No additional equipment required — Merchants use their existing point-of-sale equipment to process a MasterCard QPS transaction.
There are over 30,000 merchants currently QPS-enabled across Canada in a number of industry segments, including: Quick Service Restaurants, Gas Stations, Convenience Stores, Parking Lots, Cinemas and Drug Stores.
To learn more about QPS, please visit www.mastercard.ca/fasterthancash. To register for QPS, please contact your acquirer.
2) MASTERCARD PAYPASS® — JUST "TAP & GOTM"
MasterCard PayPass is a contactless payment technology. Instead of swiping or dipping the card in a reader, the customer waves or taps it on a terminal. The card never leaves the customer's hand. A MasterCard PayPass card contains an embedded computer chip and radio frequency antenna that transmits the payment information securely and quickly to the reader. The transaction is then processed as a normal transaction. MasterCard cards that contain the PayPass chip also have the traditional magnetic stripe so the card can continue to be used for swipe transactions.
Merchant Benefits:
- It's simpler and faster than cash, thereby speeding consumers through the checkout process.
- Increases average transaction amounts spent as compared to cash.
- Provides a reliable, trusted payment method that works well in "quick pay" environments.
- Helps attract new customers and increase their loyalty.
For more information on MasterCard PayPass, please visit www.mastercard.ca/paypass.
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THE MASTERCARD CHIP SOLUTION
MasterCard M/ChipTM payment application delivers the functions of ATM, credit, debit and Cirrus giving merchants, acquirers and issuers the foundation they need to migrate to and manage chipbased programs.
Chip is at the core of the MasterCard smart card strategy and represents the latest generation of EMV payment applications. When customer financial institutions adopt chip, they benefit from access to an assortment of added-value applications and support services that strengthen the business case for migrating to chip.
Merchant Benefits:
- Security — Chip transactions use a PIN to provide additional security for lost or stolen cards thereby reducing the likelihood of fraudulent transactions.
- Chargeback protection — Businesses that use chip and PIN terminals are relieved of liability for the cost of card fraud as long as cashiers follow the terminal prompts and use routine security practices.
- New platform — Chip will offer a platform for the development of enhanced payment features and tools, such as MasterCard PayPass®.
For more information on MasterCard M/Chip, please visit www.mastercard.ca/chip.
4) MASTERCARD CO-BRAND CARDS
A MasterCard co-brand card combines a merchant's brand with MasterCard's and that of the card-issuing financial institution. It's a powerful combination that attracts consumers while meeting their needs for security and dependability. Co-brand cards are well established and familiar in the airline, gas retailing, and affinity (clubs, alumni groups, etc.) sectors, and are quickly gaining momentum in general retail and groceries sectors. Examples of current co-brand merchants include Canadian Tire, Sears, Petro-Canada, American Airlines,WestJet and Universal Studios.
Merchant Benefits:
- Increases customer loyalty, establishes preference, and drives incremental sales.
- Co-brand credit cards typically generate higher average spend.
- Gives consumers another incentive to shop with you.
- Co-brand programs give insight into customer preferences through data capture.
- And, best of all, your customers walk around with your brand in their wallet.
5) MASTERCARD ACCEPTANCE
To promote to your customers that you accept MasterCard, we have created a variety of MasterCard point-of-sale materials for businesses including decals, signs, and much more. If you require MasterCard acceptance materials, please call and place your order at 1-888-MC-STORE (1-888-627-8673) or visit our Web site at www.mastercard.ca/mcstore.
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