TORONTO, Nov. 14, 2011, 2011 (Canada NewsWire via COMTEX) --

MasterCard's PayPassTM Payment Option Now Available

Tap your Sears FinancialTM MasterCard® with PayPassTM at Sears Stores in November and be entered to win 1 of 4 Grand Prizes

The Holiday shopping season is in full swing and, while many Canadians look forward to shopping for gifts, no one enjoys waiting in long lines to pay for their purchases. Sears Canada Inc. (TSX: SCC) today announced the introduction of MasterCard's PayPassTM contactless payment technology in its retail stores across the country.

"Offering technology that helps customers save time is important to us at Sears," said Peter Kalen, Senior Vice-President, Financial and Home Services, Sears Canada Inc. "The PayPass option speeds up the transaction and reduces waiting time for customers."

Consumers with a PayPass-enabled MasterCard credit card or mobile phone no longer need to fumble for cash, swipe a card or sign a receipt for purchases of up to $50, tax included. Instead, customers quickly and securely pay for their purchases with a simple tap of their card or phone on a PayPass point-of-sale payment terminal and the transaction is confirmed within seconds.

"MasterCard is a leader in innovative payment technology solutions and we know Sears customers are going to enjoy a faster way to pay, with the added security of never letting go of their credit cards," said David E. Orzel, Head of Market Development, MasterCard Canada. "Our research shows Canadians don't like waiting in line, so being able to make payments in seconds with PayPass technology is going to improve their overall experience shopping at Sears."

From November 1, to November 30, customers who use their Sears Financial MasterCard with PayPass to pay for their Sears purchases will automatically qualify to win one of four Grand Prizes valued up to $5,000 in Sears Club Points, redeemable for your Dream Getaway or 100 prizes of $100 in Sears Club points. For further details visit www.searsfinancial.ca/tapandwin.

Sears(®) Financial MasterCard(®) cards have been issued with PayPass functionality since October 2010. SearsFinancial MasterCardcardholders enjoy automatic enrollment into the Sears ClubTM Points program where customers earn 1 Sears ClubTM Point per $1 spent everywhere and DOUBLE points at Sears.

About Sears Canada Sears Canada is a multi-channel retailer with a network that includes 196 corporate stores, 285 hometown dealer stores, 31 home services showrooms, over 1,700 catalogue merchandise pick-up locations, 108 Sears Travel offices and a nationwide home maintenance, repair, and installation network. The Company also publishes Canada's most extensive general merchandise catalogue and offers shopping online at www.sears.ca.

About MasterCard MasterCard (NYSE: MA) is a global payments and technology company. It operates the world's fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard's products and solutions make everyday commerce activities - such as shopping, traveling, running a business and managing finances - easier, more secure and more efficient for everyone. Learn more atwww.mastercard.com, follow us on Twitter@mastercardnewsorjoin the conversation on The Heart of Commerce Blog.

About MasterCard PayPass MasterCard PayPass is ideal for retail environments where speed and convenience are essential. MasterCard has led the way in bringing contactless payments technology to Canada in consumer categories such as quick-serve restaurants, grocery stores, drug stores, gas stations, vending machines, convenience stores, sports arenas, movie theatres, transit systems, taxis, parking garages and now book stores. There are more than 21 million MasterCard PayPass-enabled credit cards and devices in use at more than 17,000 merchant locations in Canada. Canadians travelling abroad have access to more than 300,000 PayPass-accepting merchants globally, while there are close to 100 million international MasterCard PayPass-enabled cards and devices worldwide that can be used at accepting merchant locations in Canada. For more information about MasterCard PayPass and a full list of participating merchants, visit www.mastercard.ca.

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SOURCE: Sears Canada Inc.

Contact: Eliana Cugini Sears Corporate Communications 416-941-4426 ecugini@sears.ca
Kathleen McKnight MasterCard Canada 416-479-3216 kathleen_mcknight@mastercard.com