May 30, 2019

As the New York City Metropolitan Transportation Authority prepares to launch tap-and-go on some city subways and buses tomorrow, Mastercard is announcing the launch of Fareback Fridays.

According to a press release, the program offers fare refunds to cardholders who use the contactless system on the subway test route on Fridays through June and July.

The refund will apply to cardholders who tap-and-pay on the 4,5 or 6 train at any stop between Grand Central Station in Manhattan and the Atlantic Avenue-Barclays Center stop in Brooklyn. The maximum refund will be $5.50 per day, the cost of a roundtrip fare.

Mastercard will also offer Priceless Surprises, in the form of special entertainment, sports and culinary deals, to cardholders who shop at participating contactless merchants.

"Mastercard is thrilled to partner with the MTA to completely transform the experience for commuters in New York City," Linda Kirkpatrick, Mastercard executive vice president for merchants and acceptance in the U.S., said in the release. "Mastercard cardholders who tap their cards or phones at subway turnstiles will benefit from shorter wait times and a slick experience."

Cardholders should check for a WiFi logo on the back of their debit or credit cards to see if the card features tap-to-pay functionality. Alternatively, they can add their card information to a mobile wallet to take advantage of tap-and-pay functionality on an NFC-enabled smartphone.

Topics: Card Brands, Contactless / NFC, Mobile Apps, Mobile Payments, POS

Companies: MasterCard

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May 30, 2019

Comdata has launched Fintwist, a digital payment tool that allows companies to give their employees easy access to wages and financial management tools, according to a press release.

The Fintwist app is linked to a Fintwist debit card that can be used anyplace where Mastercard is accepted and that lets employees access their paycheck. The employee can use the app to send money, make payments and conduct other transactions.

"A convergence of significant workforce trends — including the emergence of the gig economy, the growth and influence of millennials in the workplace, and the rising consumer preference for digital solutions — [is] forcing companies to reevaluate how they serve workers," Brian Radin, president of the Comdata prepaid and payroll card unit, said in the announcement.

"By providing workers with a more transparent and intuitive way to manage their money, Fintwist can strengthen a company’s appeal as a destination workplace, boosting employee retention and acquisition."

Topics: Card Brands, Mobile Payments, Technology Providers

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May 30, 2019

Rambus Inc. has entered an agreement with semiconductor-maker Infineon Technologies AG to collaborate on smart ticketing technologies for mobile devices and smart cards, a press release said.

The technology is to be based on Ciperse, an open standard for mobile transport ticketing. Ciperse is supported by members of the OSPT Alliance, an international group of companies and other organizations working to develop an interoperable framework for smart ticketing across various transit systems. Rambus and Infineon are board members of the alliance. 

Rambus will provide a host card emulation ticket wallet service, as well as remote ticket download, which will allow travelers to download tickets from home. The technologies enable secure downloading of tickets onto smartphones.

"Through our collaboration with Infineon, we will be able to increase global trust and awareness of the benefits of this open standard approach, which can help make public transport ticketing more accessible for all transport scenarios, whether passengers are on rail, bus or ferry," Russell McCullagh, vice president and general manager of Rambus Ticketing, said in the release.

Topics: In-App Payments, Mobile/Digital Wallet, Mobile Payments, Software, Technology Providers, Transaction Processing

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