MasterCard announced that 80 retailers have agreed to take part in the MasterCard Cash stored value pilot taking place down under. The association is expecting more than 200 locations to accept the cash alternative, which will be linked to consumers' credit cards or bank accounts.
McDonald's restaurants, Franklins supermarkets, and the Caltex gasoline station/convenience store chain, are among the signed retailers. Local BP, Ampol, Mobil, and Shell service stations have also agreed to take part in the program.
About 10,000 customers of Australia and New Zealand Bank, Commonwealth Bank, and Westpac Bank are expected to upgrade their bank cards with the stored value feature. Applications have been sent out over the past few weeks, MasterCard said.