MasterCard has announced a new partnership with the UK’s leading health and beauty retailer, Boots UK, to introduce PayPass in selected stores in the cities of London and Liverpool.
As acquirers, RBS Worldpay will work with Boots UK and its technology partners to develop and implement an integrated solution within Boots UK stores to enable the contactless transactions to take place.
In the second half of 2009, 15 stores in London and six in Liverpool will allow customers to ‘Tap & Go’ to pay for everyday purchases under £10 in less than a second. ‘We’re proud to be the first payments company to introduce contactless to a major high street retailer in the UK,’ says Hany Fam, GM, UK & Ireland Markets, MasterCard. ‘Boots UK is an ideal environment in which to showcase the speed, convenience and security of contactless. Over a million people in the UK already know that carrying a PayPass card means always having the exact change – without being weighed down by it.’
Issuer research has shown that accepting contactless can provide immediate benefits to consumers on the shop floor, particularly during peak trade hours such as lunchtime and in busy transit locations. Contactless payments have been shown to reduce queuing times by 15-20% and decrease the average transaction time by up to 40%. In addition to direct benefits for consumers, accepting contactless can also allow retailers to benefit from greater throughput and higher transaction volumes, whilst reducing the costs of cash handling.
Boots UK’s implementation of the contactless payment system will be supported by a major marketing campaign from MasterCard to raise awareness of the technology and encourage its use.
Recent PayPass milestones in the UK: