RegardingID Archive | MasterCard creates Islamic debit card

Wednesday, August 6, 2008

MasterCard Worldwide has partnered with EonCap Islamic Bank to roll out an Islamic debit card that also includes ATM functionality. The card also works on PayPass systems, MasterCard’s contactless payment system.

“It is designed to appeal to both Muslim and non-Muslim individuals who prefer better financial control as the card ensures that purchases are automatically deducted from the cardholder’s account and approved only if enough funds exist within the account. It helps track spending, comes with worldwide acceptance at more than 26 million locations and can be used at an ATM for e-banking,” says an EonCap Bank spokesperson.

MasterCard is teaming up with WestJet, a Calgary-based airline, to trial contactless PayPass payments for in-flight purchases, according to PaymentsSource.

Scheduled to begin next month, the pilot will allow passengers on one WestJet route to tap and pay for drinks, snacks, meals or other merchandise using a contactless MasterCard credit or debit card. Eventually, the system will support NFC-enabled mobile purchases as well.

Results revealed from MTA, MasterCard PayPass pilot

As some may recall back in June 2010, the Metropolitan Transportation Authority (MTA) of New York launched tap-and-go contactless payments for commuters to enter select subway stations and participating bus lines using MasterCard PayPass-enabled terminals. Well, the results are in.

MasterCard pilots NFC payments in Aussie theaters

MasterCard and Commonwealth Bank have announced the launch of a QkR, a new mobile app that enables movie theater goers to browse and purchase refreshments from their seats.

Visa's mobile banking suite leaves room for NFC

Visa, in partnership with Monitise, has launched a suite of new mobile financial services on its revamped Debit Processing Service platform, enabling mobile phone users to check their account history and balances, transfer funds between accounts, and receive real-time transaction alerts.

SHAZAM chooses Adaptive Payment mobile POS app

SHAZAM, a member-owned and -controlled EFT network and processor, has chosen Adaptive Payments’ Pentagon mobile POS payments application. With the Pentagon platform, merchants can accept PIN debit, signature debit and credit transactions from iPhone and Android phones and tablets.

Sallie Mae rolls out fee free ATMs on campuses nationwide

Sallie Mae is rolling out fee free ATMs on select campuses which enable student checking account customers to withdraw cash surcharge-free using their Sallie Mae Debit MasterCard.

Subscribe

Print Magazine

Featured Events

Links

Searching …

MasterCard creates Islamic debit card