Laconia Savings Bank to introduce 'Tap & Go' debit cards

Laconia Savings Bank will be providing customers with MasterCard® PayPass™ contactless payment technology on its debit cards. The PayPass-enabled cards offer customers a faster, secure way to pay and a more convenient shopping experience by enabling “Tap & Go™” payments.

To use the feature, Laconia Savings Bank customers simply tap their PayPass-enabled debit cards on a specially equipped merchant terminal. PayPass allows payments to be completed quickly and easily, without the hassle of swiping a card or fumbling for cash and coins. Signatures are not required for PayPass purchases under $50, further speeding a customer’s transactions. PayPass cards also include a traditional magnetic stripe so they can be used anywhere MasterCard cards are accepted.

“MasterCard PayPass is a great example of Laconia Savings Bank’s commitment to provide up-to-date technology and bring added value to our customers,” said Mark Primeau, president and CEO. “MasterCard PayPass is simpler and faster than paying for an item with cash, giving our cardholders a more convenient payment option.”

According to U.S. MasterCard research, consumer preference and satisfaction is driving PayPass growth and usage. About 94-percent of PayPass-using respondents in a 2008 MasterCard PayPass Benchmark Study were satisfied with their experience, and 77 percent of PayPass consumers said they use PayPass as their primary card for everyday purchases.

Laconia Savings Bank will begin providing new customers with PayPass-enabled debit cards in January. It will begin replacing all other existing customers’ debit cards with PayPass-enabled debit cards upon renewal or request.

For further information, contact any local office or log on to www.laconiasavings.com.