Purchase, NY, August 31, 2009 - MasterCard Worldwide today announced that Tim Hortons, one of North America's largest quick service restaurant chains, is now accepting MasterCard® PayPassTM at more than 400 U.S. locations. In addition to accepting traditional magnetic-stripe cards, Tim Hortons now enables its U.S. customers to make their purchases by simply tapping their MasterCard PayPass card or device at checkout, for faster transactions, greater payment flexibility and less time spent waiting in line. Tim Hortons first began accepting MasterCard PayPass in many of its 3,000 stores in Canada in 2007.
"We are always working to improve our speed of service and make visits to our locations more convenient," said David Clanachan, chief operations officer, U.S. and International, Tim Hortons Inc. "After seeing how MasterCard PayPass has helped increase throughput and the positive reactions of our customers, we wanted to expand that payment convenience and flexibility to our millions of U.S. customers."
With MasterCard PayPass, Tim Hortons customers simply tap their PayPass-enabled MasterCard card or device on a PayPass-accepting reader at check-out. MasterCard PayPass also does not require customers to sign receipts for purchases under $25, further speeding up the transaction.
"Quick service restaurants like Tim Hortons are the ideal environment for MasterCard PayPass because many of the customers they cater to are busy and on the go," said Cathleen Conforti, senior vice president, Global PayPass, MasterCard Worldwide. "By accepting MasterCard PayPass, Tim Hortons can help shorten lines, improve customer satisfaction, and meet the growing demand of consumers for fast, flexible payment options that are more convenient than cash or check."
Growing usage and acceptance of contactless payments reflects the growing consumer preference for electronic payments over cash for everyday purchases. According to MasterCard research, about 94 percent of PayPass-using respondents to a 2008 MasterCard PayPass Benchmark Study were satisfied with their experience, and 77 percent of consumers that have a PayPass-enabled card use it as their primary form of payment. As of 2Q 2009, MasterCard had issued nearly 61 million MasterCard PayPass cards or devices, an increase of more than 60% versus the same time last year.
About Tim Hortons Inc.
Tim Hortons is the fourth largest publicly-traded quick service restaurant chain in North America based on market capitalization, and the largest in Canada. Tim Hortons appeals to a broad range of consumer tastes, with a menu that includes premium coffee, flavored cappuccinos, specialty teas, home-style soups, fresh sandwiches, donuts and fresh baked goods. As of June 28th, 2009, Tim Hortons had 3,475 systemwide restaurants, including 2,939 in Canada and 536 in the United States. More information about the Company is available at www.timhortons.com
About MasterCard® PayPassTM
MasterCard PayPass is ideal for traditional cash-heavy environments where speed is essential, and has led the way in bringing contactless technology to consumer categories such as quick serve restaurants, drug stores, gas stations, vending machines, convenience stores, sports arenas, movie theaters, transit systems, taxis, parking garages and more. As of Q2 2009, there are nearly 61 million MasterCard PayPass cards and devices in use at over 153,000 merchants worldwide, including participating BP, Best Buy, 7-Eleven, CVS, McDonald's, Petco and many others. PayPass also is accepted at numerous professional football and baseball stadiums. For more information about MasterCard PayPass and a full list of participating merchants, visit www.mastercard.com/paypass
About MasterCard Worldwide
MasterCard Worldwide advances global commerce by providing a critical economic link among financial institutions, businesses, cardholders and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes approximately 21 billion transactions each year, and provides industry-leading analysis and consulting services to financial-institution customers and merchants. Powered by the MasterCard Worldwide Network and through its family of brands, including MasterCard®, Maestro® and Cirrus®, MasterCard serves consumers and businesses in more than 210 countries and territories. For more information go to www.mastercard.com
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Contacts:
Tristan Jordan, MasterCard Worldwide, +1 914-249-5724, tristan_jordan@mastercard.com
David Morelli, Tim Hortons Inc., +1 905-339-6277, morelli_david@timhortons.com
