BAC-Credomatic customers can now use MasterCard’s PayPass™, allowing customers to make everday purchases quickly and safely with with just a tap of card or device. With the technology there is not need to swipe the card.
PayPass is faster than traditional EFTPOS and is ideal for transactions under $100, as no signature or PIN is required. You don’t need to count your change or worry whether you have enough cash on hand to make your purchase.
The new technology is designed to be just as secure as the magnetic stripe on traditional MasterCard credit and debit cards. Jonathan Alvarado, director of Credomatic’s Mastercard issuer for Central America, the card needs only be a 15 centimetres (six inches) from the reader.
With the new card the customer never has to leave possession of his or her card. It doesn’t matter how many times a card is read by the PayPass reader, the charge will only occur once. If the retailer doesn’t have a PayPass reader installed, customers can continue to swipe your PayPass credit card just as you always. PayPass is a permanent feature of your card and can’t be disabled.
BAC-Credomatic is also switching to the chip cards. The change is over will be gradual. “By the end of 2013, we will have more than 5.000 ‘chip’ terminals in use in Costa Rica”, said Omar Jiménez, head of BAC-Credomatic business affiliation department.