December 3,2006
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PayPass Makes Buying Coke Easier
MasterCard's contactless payment option, the PayPass, will soon be hitting some 1,000 Coca-Cola vending machines in the Philadelphia metro area. The concept was piloted in New York City and Atlanta, to the satisfaction of many MasterCard consumers in those areas.
The deal between Coca-Cola and MasterCard is also revolutionary for being the largest venture of "speed pay" technology to date – it has never been rolled out on such a scale before. MasterCard estimates that there are around 7 million PayPass instruments in the market, and over 30,000 locations globally that accept PayPass. Those numbers are still small, but with MasterCard seeking such gainful opportunities as the alliance with Coca-Cola, it will be interesting to see what the future holds for PayPass.