Wireless credit-card payment terminals.(Brief Article)

Bank Marketing, December, 2003

The electronic payment technology company, Hypercom Corp., has introduced its first advanced terminal to support MasterCard's PayPass, a "contactless" payment program. Using MasterCard PayPass, consumers simply tap or wave their payment card on a specially equipped merchant terminal that then transmits payment details wirelessly, eliminating the need to swipe the card through a reader or hand it to a store clerk.

The new terminal is best suited for traditional cash-only environments where speed is essential, including gas stations, movie theaters and fast casual restaurants.