MasterCard Sets the Standard for Contactless Payments

MasterCard announced a new program which will bring contactless payments to all your various gadgets. From fitness trackers to keychains, this new program will allow consumers to use whatever device is convenient for them. Already on board are smart ring makers Ringly, Bluetooth tracker company TrackR, fitnessband maker Nymi, carmaker GM, and credit card issuer Capital One.

An extensiton of the MasterCard Digital Enablement Service and the Digital Enablement Express program, creates standard in which users will be able to choose what device and which card they wish to set for mobile payment, and head out of the house for their activities, without the need of grabbing their purses or wallets.

Products and services will begin a US rollout in 2016, with plans to expand to further markets soon after. With this mobile payment service being intended for multiple products, in the true spirit of IoT, expect this to quickly over shadow Apple Pay.

Source

  • E

    I understand the security one might feel by not having to carry around a stack of credit cards, but having this information disseminated through an array of devices doesn’t make me feel any safer. Guess I don’t trust the word “secure” in our hack-friendly world.