MasterCard Worldwide and Toshiba Corporation announced the launch of MasterCard PayPass™ enabled chip module. PayPass is a contactless payment feature developed and deployed globally by MasterCard. With this collaboration MasterCard and Toshiba plan to introduce the chip module in Japanese market by the end of 2008.Designed using globally interoperable standards (ISO/IEC7816 and ISO/IEC14443), the chip module will be enabled with dual interface (EMV contact / PayPass contactless). The price gap will be kept to the minimum from the single EMV contact interface chip so that companies who currently adopt and deploy EMV contact chip can easily add and issue PayPass enabled cards with costs saved.
For MasterCard customer companies, adoption of the chip module is easy, as it is enabled with M/chip 2, which is the most accepted version of M/Chip (application for IC card of MasterCard) among MasterCard customer companies in Japan.
Since its first launch in 2002,PayPass continues to gain strong momentum worldwide.
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