MasterCard (MA) Has Issued 20 Million PayPass Devices

MasterCard (NYSE: MA) today announced it has officially issued at least 20 million MasterCard PayPass devices throughout the world. The PayPass device is a "contactless" credit card that allows consumers to tap or wave their credit cards over a merchant's terminal, rather than actually sliding the card through a reader. According to MasterCard, the terminals needed to use the PayPass devices are now located at over 80,000 merchants in 20 different countries.

Shares of MasterCard have risen more than 3% today, marking a new 52-week high at $218.43. MasterCard stock is up more than 100% year-to-date and nearly 400% from its IPO in June, when the stock priced at around $40.

MasterCard Incorporated, along with its subsidiaries, operates as a payment solutions company. The company develops and markets payment solutions, processes payment transactions, and provides consulting services to customers and merchants.

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