Motorola and MasterCard running a trial of contactless payment
Posted on 13-Oct-2004 02:27
Filed under: News
Motorola will conduct a field trial of mobile phones enabled with MasterCard PayPass, a new contactless payment option and Near Field Communications (NFC) technology. The company says consumers will perform faster transactions conducted with their mobile phones.
"Motorola is excited to be working with MasterCard to create a phone that has the potential to be lifestyle changing, and offers a convenient, fast, and secure method of payment. In essence your phone will become your wallet, key chain and your ID," said Ron Hamma, vice president and director of enterprise business development, Motorola, Inc. "Fully integrating MasterCard PayPass technology in our phones is a natural fit and major benefit to the consumer."
The handsets will incorporate a number of security features to protect financial data and to ensure consumers a secure financial transaction. The Motorola phones will be equipped with NFC technology, which enables the device to run multiple proximity applications as well as payment. In the future, these may include applications such as contactless ticketing for mass transit or events. In addition, the phone can function as a contactless reader, paving the way for a variety of marketing and promotional applications. Applications can be loaded into the secure area of the phone 'over the air,' offering potential operational savings to card issuing financial institutions, as well as revenue opportunities to wireless network operators.
The Motorola phones enabled with MasterCard PayPass technology are expected to be trialed by the end of this year in a variety of locations in the U.S.