MasterCard Worldwide and Taco Bell announced that they are testing MasterCard PayPass, an innovative contactless payment solution, with the intent to launch at all 1,300 company owned restaurants and additional participating franchise locations nationwide. Taco Bell is the nation’s leading Mexican-style quick service restaurant chain, making it the perfect setting for this quick and easy payment option. PayPass will be accepted at both dine-in and drive-thru locations. Approximately 100 Taco Bell stores will begin accepting MasterCard PayPass in the fourth quarter of 2007, with additional stores added throughout 2008, pending a successful test.
“As a quick service restaurant we understand the importance of our customers’ time, and accepting MasterCard PayPass provides an obvious benefit to them,” said Greg Creed, President, Taco Bell Corp. “PayPass gives Taco Bell customers the opportunity to order their food, pay for it, grab it and run without having to search for cash.”
With MasterCard PayPass, consumers no longer need to fumble for cash or hand their card to a cashier for purchases. Users simply tap their PayPass-enabled card or device on the PayPass reader and are on their way. Purchases under $25 will not require the customer to sign the receipt, further speeding up the transaction. In addition, Taco Bell will continue to accept traditional magnetic-stripe payment cards.
“Taco Bell’s decision to accept MasterCard PayPass demonstrates its focus on improving the customer experience,” said T.J. Sharkey, Group Head, National Accounts, U.S. Commerce Development, MasterCard Worldwide. “PayPass is revolutionizing the quick service industry by enabling customers to Ã¢Âtap and go’ when making purchases, keeping lines short and moving more customers through restaurants faster.”
About MasterCard PayPass
MasterCard PayPass is ideal for traditional cash-heavy environments where speed is essential, and has led the way in bringing contactless technology to consumer categories such as quick serve restaurants, drug stores, gas stations, vending machines, convenience stores, sports arenas, movie theaters, transit systems and parking garages. There are currently nearly 13 million PayPass cards and devices in the market, and PayPass is currently accepted globally at 46,000 merchant locations, including participating 7-Eleven, CVS, Regal Entertainment Group theaters and many others. PayPass is also accepted at numerous football and baseball stadiums. For more information about MasterCard PayPass and a full list of participating merchants, visit www.mastercard.com/paypass.
About MasterCard Worldwide
MasterCard Worldwide advances global commerce by providing a critical economic link among financial institutions, businesses, cardholders and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes over 16 billion transactions each year, and provides industry-leading analysis and consulting services to financial institution customers and merchants. Through its family of brands, including MasterCardÂ®, MaestroÂ® and CirrusÂ®, MasterCard serves consumers and businesses in more than 210 countries and territories. For more information go to http://www.mastercard.com.
About Taco Bell
Taco Bell Corp., a subsidiary of Yum! Brands, Inc., (NYSE: YUM), is the nation’s leading Mexican-style quick service restaurant chain serving tacos, burritos, signature Quesadillas, Grilled Stuft Burritos, nachos and other specialty items. Taco Bell serves more than 35 million consumers each week in nearly 5,800 restaurants in the U.S.