Making a Pass
Credit card purchases without the swiping?
After a successful trial run in Orlando, Florida, MasterCard will start incorporating its wireless radio frequency PayPass feature into new cards across the nation. Consumers just wave their cards in front of a PayPass-equipped reader. There's no swiping and no signing for most purchases under $25. Cards can still be used in the traditional way as a backup and for added security and purchase protections.
Nokia has also teamed up with MasterCard for trials of mobile phones with built-in PayPass capabilities. Placing this technology onto phones could also be a boon to the fledgling area of wireless advertising. Nokia has developed an SMS feature that allows retailers to send advertisements to consumers. The company will also test an MMS version for multimedia ads.
Continue reading this article -- and everything on Entrepreneur!
Become a member to get unlimited access and support the voices you want to hear more from. Get full access to Entrepreneur for just $5!
