7-Eleven Inc. (Dallas) will improve upon its commitment to offer customers a convenient shopping experience by introducing a new contactless payment option using radio frequency (RF) technology called MasterCard PayPass. The convenience store chain retailer expects to roll out the program in its 5300 U.S. locations by early 2006 and has installed RF readers in 170 test-market 7-Eleven stores.
“As the world's largest convenience retailer, it's a natural decision for 7-Eleven to provide consumers with an even more convenient way to pay,” said Rick Updyke, 7-Eleven’s vp, business development. “PayPass enhances our customers' shopping experience by offering speed and convenience when paying at 7-Eleven.”
To complete a payment transaction, MasterCard PayPass cardholders simply tap their PayPass-enabled MasterCard card — or alternative devices, such as a cell phone or key fob — inside the store at the specially-equipped terminals using RF technology. Visual and sound cues from the terminal indicate MasterCard PayPass has been read, processed and accepted through the acceptance network of MasterCard. Seconds after tapping the card, the transaction is authorized and confirmed. No signature is required for many purchases under $25, which makes it even easier to minimize time spent at the point-of-sale counter.
“Consumers prefer and demonstrate loyalty to retailers who deliver on real convenience,” said Fred Gore, senior vp, North America Acceptance, MasterCard Intl. “7-Eleven is a leader in customer convenience. We're pleased to be working with 7-Eleven to offer our mutual customers (MasterCard cardholders) the speed, convenience and security of MasterCard PayPass.”
7-Eleven operates or franchises approximately 5800 7-Eleven stores in the U.S. and Canada and licenses approximately 21,300 7-Eleven stores in 17 other countries and U.S. territories.