Yapital MasterCard to be equipped with NFC chip technology (PayPass), possible to make 'contactless' payments

Yapital MasterCard to be equipped with NFC chip technology (PayPass), possible to make 'contactless' payments
Yapital Financial AG has announced that Yapital customers will soon gain free access to more than 35 million payment acceptance points worldwide, as a result of cooperation with business partner Mastercard. Thanks to the upcoming launch of the Yapital MasterCard, this is the reality which will soon be greeting all Yapital users from within the company's existing German, Austrian and Luxembourgish markets. After funding their Yapital accounts, customers will receive their card by post, completely free of charge. The Yapital MasterCard can then be used to make purchases at over 35 million acceptance points worldwide, including all online shops that display the MasterCard logo. With this, Yapital completes its rapid implementation of all the most simple and secure payment channels.

Through cooperation with MasterCard, Yapital users can now use the innovative cross-channel-payment solution with merchants that are not yet offering Yapital's smartphone and QR code payment option. Additionally, the Yapital MasterCard comes equipped with the latest NFC chip technology (PayPass), bringing with it the possibility to make 'contactless' payments - and for purchases up to €25, users aren't even required to type in their PIN.

Commenting on the news, MasterCard's Head of Commerce Development Germany, David Klemm said: "We are convinced that innovative payment options will eventually replace cash, and that that day will come sooner rather than later. That's why we're thrilled to bring together Yapital's cross-channel payment efforts with the fastest growing network of payment acceptance points."

"Considering its enormous network of acceptance points, MasterCard is an exceptional partner for us," announced Nils Winkler, Yapital's Chairman of the Board. "Thanks to this partnership, our users can now pay with Yapital, free of charge, almost anywhere in the world. This is an important step towards our goal in establishing Yapital as a payment method for every possible occasion."

For those who haven't yet heard of Yapital, it is a European, cashless cross-channel payment solution operating across all channels: in-store, mobile, online and by invoice. Operation is easy, fast and secure: following online registration, the user can immediately make payments, send and receive money with Yapital, across all channels. The company was established in 2011 as a wholly owned subsidiary of the Otto Group. Yapital Financial AG is licensed in Luxembourg as an electronic money institution.
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