MasterCard and Peppercoin Will Work Together to Drive Small Card Payments
PURCHASE, N.Y. and WALTHAM, Mass., Dec. 6 /PRNewswire/ -- MasterCard
International and Peppercoin today announced that they have signed a Letter of
Intent and are working towards an alliance to accelerate card usage for small
payments at the physical point of sale and online. Peppercoin is a payments
technology company that enables profitable new business models for low-priced
digital content and physical goods.
MasterCard provides merchants with the flexibility to decide when to
submit a small transaction to MasterCard. MasterCard believes that by
aggregating smaller payments, a merchant can process micropayment transactions
cost-effectively. This allows merchants to reduce their transaction cost,
while retaining the ability to offer their customers the convenience and
protections of a trusted payment brand for purchases of any size. Merchants
can utilize small payments technology, such as that from Peppercoin, to
develop new revenue streams, implement loyalty programs more easily, and meet
consumer demand while selling low-priced goods profitably.
"The micro and small payments market represents a significant growth
opportunity for card-enabled transactions," said Art Kranzley, global product
group executive, MasterCard International. "MasterCard recognizes the need
for a convenient, consistent and safe payment experience in the online, mobile
and physical environments and we provide flexible solutions to financial
institutions and merchants to meet these needs."
"Peppercoin is an ideal choice as a service provider. The company has been
working closely with merchants and financial institutions to provide an
innovative technology that works within the existing payments infrastructure,"
added Kranzley.
Consumers are demonstrating a clear and growing preference to use their
credit and debit cards for purchases of all sizes. Each year, consumers in the
United States make more than 350 billion transactions of less than $5,
representing $1.32 trillion in total spending. Peppercoin is at the forefront
in providing a solution that allows merchants and financial institutions to
card-enable these transactions, capture a larger market share with flexible
business models, and drive new revenue streams.
Peppercoin, a small payments technology company that offers pre-paid,
post-paid, subscription and pay-as-you-go pricing options, helps merchants
online and in the physical world maximize profitability through flexible
business models, as well as reduced processing and customer service costs.
Peppercoin allows consumers to use their credit and debit cards for purchases,
including those for $5 or less.
Through the anticipated alliance, merchants who enroll in the Peppercoin
micro and small payments program will receive a reduction in Peppercoin fees
for their MasterCard transactions.
"This is a great milestone for Peppercoin. MasterCard has a long history
of payments innovation, such as its MasterCard PayPass(TM) contactless payment
program. We look forward to working with them in the coming year to bring
additional innovations to the micro and small payments market," said Mark
Friedman, president and CEO of Peppercoin. "Merchants will have extra
confidence in beginning small payments initiatives, knowing that MasterCard
supports the use of Peppercoin technology by merchants to provide flexible
purchasing options for consumers."
About MasterCard International
MasterCard International is a leading global payments solutions company
that provides a broad variety of innovative services in support of our global
members' credit, deposit access, electronic cash, business-to-business and
related payment programs. MasterCard, through its principal operating
subsidiary, MasterCard International Incorporated, manages a family of well-
known, widely accepted payment card brands including MasterCard(R), Maestro(R)
and Cirrus(R) and serves financial institutions, consumers and businesses in
over 210 countries and territories. The MasterCard award-winning Priceless(R)
advertising campaign is now seen in 105 countries and in 48 languages, giving
the MasterCard brand a truly global reach and scope. For more information go
to http://www.mastercardinternational.com.
About Peppercoin, Inc.
Peppercoin enables profitable new business models for low-priced digital
content and physical goods. Peppercoin's small payment products help
merchants, banks, and other payments companies build market adoption quickly
through a flexible, consumer-friendly approach. Peppercoin integrates easily
with existing business models and payment systems to accelerate revenues and
increase profits. For more information please visit http://www.peppercoin.com.
All trademarks are the property of their respective owners.
Contacts: Mark W. McClennan or Christina Rae
Julie Goldman MasterCard International
Schwartz Communications 914-249-4606
781-684-0770 christina_rae@mastercard.com
Peppercoin@schwartz-pr.com
SOURCE Peppercoin, Inc.
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Related links:
http://www.peppercoin.com
http://www.mastercardinternational.com
CONTACT:
Mark W. McClennan or Julie Goldman both of
Schwartz Communications, +1-781-684-0770,
Peppercoin@schwartz-pr.com; or Christina Rae of MasterCard
International, +1-914-249-4606, christina_rae@mastercard.com
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