Shoppers Can Now Tap & Go™ With MasterCard® PayPass™ At New York & Company Stores Nationwide
MasterCard Worldwide announced recently that leading women's fashion retailer New York & Company is now accepting MasterCard® PayPass™ contactless payment technology. The specialty retailer has been serving customers for over 90 years and is recognized for its "NY Style at Great Deals." The company becomes the first national apparel merchant to accept MasterCard PayPass, and will accept the contactless payment technology at all of its 600 store locations.
"Obviously, we want to do everything we can to ensure that our customers have a seamless shopping experience," said Richard P. Crystal, chairman and CEO of New York & Company. "We are committed to providing the fashion-conscious, value-sensitive women who visit our stores with a fast and convenient way to pay. By accepting contactless payment technology, we are able to enhance the overall shopping experience by expediting the payment process."
PayPass contactless payments are designed to enable purchases that are quick, easy and secure. Customers simply tap their PayPass-enabled MasterCard card or device on a PayPass reader to make a purchase, eliminating the need to hand their card over to a cashier or fumble for cash. MasterCard PayPass also does not require customers to sign receipts for purchases under $25, further speeding up the transaction.
"MasterCard PayPass has seen widespread adoption in the retail sector and in merchant categories such as restaurants, convenience stores and taxis," said Denis Bouchard, group head, U.S. Merchant Product Sales, MasterCard Worldwide. "In accepting MasterCard PayPass, New York & Company recognizes that customers seek speed and convenience when purchasing apparel, and will help enhance the overall experience within its stores."
According to MasterCard research, consumer preference and satisfaction is driving PayPass growth and usage globally. A 2007 MasterCard PayPass Benchmark Study found that about 90 percent of PayPass-using respondents were satisfied with their experience, and 71 percent of PayPass consumers said they use PayPass as their primary card for everyday purchases.
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. As of 2Q 2008, there are nearly 37 million MasterCard PayPass cards and devices in use in 24 countries, and PayPass is currently accepted globally at more than 122,000 merchant locations, including participating 7-Eleven, CVS, McDonald's and many others. PayPass is also accepted at numerous professional 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 18 billion transactions each year, and provides industry-leading analysis and consulting services to financial institution customers and merchants. Through its family of brands, including MasterCard®, Maestro® and Cirrus®, MasterCard serves consumers and businesses in more than 210 countries and territories. For more information go to http://www.mastercard.com.
About New York & Company
New York & Company, Inc. is a leading specialty retailer of women's fashion apparel and accessories offering "New York Style" at great prices. The Company's proprietary branded New York & Company ™ merchandise is sold exclusively through its national network of New York & Company retail stores and E-commerce store at www.nyandcompany.com. The Company currently operates 593 stores in 44 states. Additionally, certain product, press release and SEC filing information concerning the Company are available at the Company's website: www.nyandcompany.com.
SOURCE: MasterCard Worldwide