CLEVELAND, April 24, 2019 /PRNewswire/ -- Combining
convenience, speed and security, KeyBank today announced the launch
of KeyBank Mastercard® contactless credit and debit cards, in
partnership with Mastercard and FIS. The new cards—now in
issuance—allow clients to make in-store purchases at the speed of a
single tap, while providing secure dynamic encryption during the
buying process.
"The KeyBank Mastercard® contactless cards demonstrate our
commitment to investing in seamless experiences for our customers
through increased, intelligent accessibility," said Ken Gavrity, head of KeyBank Enterprise
Payments. "We know that consumers value convenience and speed, and
our new contactless cards make everyday purchases quick and simple,
with the confidence that transactions are secure. We're thrilled to
offer our customers this easy-to-use and safe way to pay."
The KeyBank Mastercard® contactless cards feature the latest in
contactless chip technology—meaning paying for purchases is a
matter of "tap and go" at point of sale terminals. The contactless
chip technology provides EMV security, creating a unique code for
each individual transaction that allows customers to make secure
purchases at a rate 10 times faster than inserting a
card.ii
Including both debit and credit cards, the new contactless
offering brings KeyBank to the forefront of a payments industry
that is embracing contactless technology. Over half of Europeans
are already paying with contactless at least once a week, according
to Mastercardi, and acceptance of contactless cards is
growing significantly in communities across the U.S., with more
than half of all card-present transactions taking place at
contactless-enabled locations.iii With contactless card
acceptance expected to increase, KeyBank understands the importance
of providing consumers with a smart solution for all purchases, no
matter the size.
"From transit tickets, to morning coffees, people want to go
about their every-day life with ease and complete peace of mind,
and with contactless, we aim to make transactions quicker, safer
and seamless to better fit our customers' lifestyles," said Raj
Seshadri, President U.S Issuers, North
America for Mastercard.
For more information on KeyBank Mastercard® contactless credit
and debit cards, visit key.com/tap.
About KeyCorp
KeyCorp's (NYSE: KEY) roots trace back 190 years to
Albany, New York. Headquartered in
Cleveland, Ohio, Key is one of the
nation's largest bank-based financial services companies, with
assets of approximately $139.6 billion at December 31,
2018. Key provides deposit, lending, cash management, and
investment services to individuals and businesses in 15 states
under the name KeyBank National Association through a network of
over 1,100 branches and more than 1,500 ATMs. Key also provides a
broad range of sophisticated corporate and investment banking
products, such as merger and acquisition advice, public and private
debt and equity, syndications and derivatives to middle market
companies in selected industries throughout the United States under the KeyBanc Capital
Markets trade name. For more information, visit
https://www.key.com/. KeyBank is Member FDIC.
i Over 175 million Europeans ready to pay with
wearable devices, Mastercard, February 22,
2018 ii GFK mystery shopping study, 2017
iii Mastercard Data Warehouse, Q1 2018
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SOURCE KeyCorp