News

Advanta launches PayPass small-business credit card

August 22, 2006

SPRING HOUSE, Pa. - MasterCard Worldwide and Advanta Corp. have partnered to issue in September the first PayPass-enabled Advanta MasterCard small-business credit card.

According to a news release, the card includes the traditional magnetic stripe and can be used at more than 24 million MasterCard-acceptance locations around the world.

As of the second quarter of 2006, nearly 10 million PayPass cards and devices were in the market. Approximately 32,000 merchant locations around the world that accept PayPass cards.