Friday, April 27, 2007

MasterCard PayPass Card Evolves Into Phone

Nokia phone enabled with MasterCard PayPass - Image Credit: TechShout

MasterCard PayPass Card Evolves Into Phone

The evolution of “Speed Passing” RFID technology is making its way on many fronts.

Many sports franchise venues are beginning to place systems at their PoS cashpoints that accept MasterCard’s RFID enabled PayPass Card.

In an article found in the latest edition of “Contactless News” –

MasterCard Worldwide announced that three arenas, home to three National Hockey League (NHL), two National Basketball Association (NBA) teams and an array of special events are accepting MasterCard PayPass, a contactless payment option. Now fans can pay for concessions using MasterCard PayPass, which delivers speed and convenience at the register when making purchases.
Fans will now be able to catch more of their team’s action during the season’s home stretch and crucial playoff run. Consumers purchasing concessions need only tap their PayPass-enabled card or device on specially-equipped terminals. In addition, no signature or PIN is required to complete the transaction for purchases under $25. Sports fans in Chicago who also attend baseball or football games will already be familiar with the technology, as it was deployed at Soldier Field, U.S. Cellular Field and Wrigley Field prior to the 2006 seasons (in addition to thousands of other merchants throughout the U.S.).
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Also, Nokia wants to turn the phone you carry into a "Speed Pass" machine. With this announcement, a fan may not even have to carry a credit card anymore. Nokia and MasterCard PayPass have been negotiating with many of the major mobile telecom service providers to transform how people can pay for goods and services.

When this plan is implemented, Fans and other consumers will not have to carry a card anymore --- just wave a RFID MasterCard PayPass chip enabled phone over the reader at the PoS cashpoint, and off you go.

Excerpts from Reuters via Tech Shout -

Image Credit: TechShout

Nokia, Mobile Telecom Carriers Team Up on Mobile Wallet Plan
TechShout - Friday, April 27th, 2007

Nokia and several mobile telecom carriers have all teamed-up for a global initiative that will transform mobile phones into wallets, a wireless telecoms interest group announced on Wednesday.

Through this novel plan, consumers will be able to use a phone as a wallet or as an access card simply by waving it over a wireless reader - and in some cases punching a PIN number into the phone - similar to how travelers in Tokyo and London access public transport.

Kai Oistamo, head of Nokia’s main cell phones unit, told Reuters, “The phone becomes a wallet, after that you can pay with it just like you pay with your bank cards.”
Nokia, along with two other leading cell phone makers Samsung Electronics and LG Electronics, will set in a wireless chip into its phones.

This project also has MasterCard – the world’s biggest payment card company, which is cheaper and much faster than other wireless payment experiments, like those using SMS text messages.
Trials with the new standard will begin in October. the Reuters report further said.
Jointly with chip makers NXP and Sony, which kicked off the contactless chip called Near Field Communication (NFC), companies plan a global standard for electronic wallets in cell phones.

In Japan, mobile phones are already widely used as electronic wallets, where over 12.6 million consumers already have their credit cards embedded in a chip in cell phones.

Mifare, developed by NXP, formerly known as Philips Semiconductors and Felica built by Sony are two of the most widely used formats used for access cards for buildings and public transport as well as cell phones which double as electronic wallets.

In a statement, Mifare and Felica said, “By combining this secure chip with an NFC chip, a universal contactless IC (integrated circuit) platform can be created for mobile phones.”
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