All MasterCard payment cards in Australia will
be PayPass-enabled by October 2012 as part of the network’s
five-year roadmap to grow the country’s payment system.

More than 5.3 million MasterCard PayPass
contactless cards have been issued in Australia and are currently
accepted at 35,000 merchant locations, according to MasterCard’s
divisional president Eddie Grobler. The growth of PayPass
transactions grew 235% between June and December 2010 and this
figure is set to grow even further under MasterCard’s new
plans.

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Merchants such as taxis, newsagents,
supermarkets, service stations, fast food restaurants and cinemas
will all be required to deploy at least one PayPass enabled
terminal in the next five years.

“The set of changes outlined in the roadmap
will change the face of the payments industry in Australia and
bring a broad range of benefits across the financial sector,” said
Grobler.

In addition to its contactless plans, all new
and reissued MasterCard credit and debit cards issued by Australian
banks must be EMV capable by October 2011 and all POS terminals EMV
compliant by April 2012.

Online merchants will also be required to
provide either MasterCard SecureCode Authentication or an
equivalent for transactions over $200 by April 2013 and all ATMs
must be EMV-enabled by the end of 2015.

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“MasterCard has placed a strong and consistent
emphasis on our security systems to safeguard cardholders,
merchants and the banking industry,” said Grobler.

“In the next five years we will continue to
invest here, particularly with more merchants and cardholders
migrating to online purchases.”