Is the signature requirement waived for MasterCard PayPass? Is there a purchase amount limit?
Acceptance procedures do not change with the introduction of PayPass, however MasterCard PayPass transactions are targeted at low value purchases that were formerly paid with cash. To ensure this type of transaction is a simpler way to pay for both consumers and retailers, MasterCard offers qualified, quick-pay retailers the opportunity to participate in MasterCard’s Quick Payment Service (QPS) program. QPS allows participating merchants to waive signature requirements for authorized small value transactions while still receiving a guarantee of payment for that purchase. Eligible merchant categories include quick-serve restaurants, parking venues and movie theatres. The exact dollar amount varies by merchant category. For purchases above that limit, cardholder signature or PIN is still required.
