Sweet: Pay for Your Sub with Your Smartphone in 2012

By Christopher Maag

In a few months, you’ll be able to buy a Subway sandwich with the tap of a smartphone. MasterCard announced recently that the restaurant chain will install contactless PayPass payment devices at more than 7,000 Subways across the country.

To make a purchase, customers will simply tap their smartphone against the device. They will also be able to pay by swiping other devices, including PayPass-enabled credit cards and key fobs. The readers will be installed by the first few months of 2012.

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For customers, “with MasterCard PayPass, they’ll have another payment choice that is convenient and easy to use.” Tony Pace, chief of global marketing for Subway, said in a press release.

Many retailers and credit card issuers love the idea of contactless payment because it speeds up the payment process, and makes it even more removed from the psychological barrier of paying for things with physical cash. Consumers appear to like it too—almost 100 million PayPass-enabled cards, key fobs and other devices have been issued worldwide so far, MasterCard said.

“Subway’s decision to provide PayPass acceptance is a testament to the popularity of contactless payments and our shared goal of providing consumers a faster and more convenient payment experience,” Mario Shiliashki, a Senior Vice President at MasterCard, said in a release.

Another benefit: Customers using PayPass don’t have to sign receipts for purchases under $50. That means you could buy six Sweet Onion Chicken Teriyaki footlongs without even signing your name.

[Related article: Hurry Up and Wait: Google Wallet is Coming (Eventually)]

This story originally appeared on Credit.com


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