MasterCard moves a step ahead in mobile services
MasterCard proclaimed a service through which its users can pay for products with their cell phones. The company’s over-the-air provisioning service lets the card issuers transfer a PayPass application onto handsets that are equipped with Near Field Communication technology. After that customer can use this service as their payement account over a mobile network, and then buy products by swiping the phone near specially-equipped terminals.
The NFC technology facilitates contactless payements and it’s already in many mobile phones around the world. It is forecasted that up to one-third of all cell phones will be NFC-equipped in five years.
“At MasterCard, we are dedicated to the development of a sustainable mobile payments eco-system in which all of our customers and every major mobile player can participate,” said Art Kranzley, MasterCard’s chief emerging technology officer. “By managing the device personalization process for our customers from beginning to end, we are offering a service that is consistent with both customer demand for ease of implementation and consumer demand for ease of use,” Kranzley added.
However, Visa, the contender of MasterCard is also heading towards mobile market and it has been piloting mobile banking and payment services. Additionally, Visa partnered with Nokia to roll out a handset with NFC technology. The comapny said, it would develop applications for Google’s Android platform.
