MasterCard Offers a Piece of the Mobile Payment Puzzle
MasterCard today announced a program that allows its issuing banks to essentially turn your cell phone into a one of the credit cards (provided you already have one, of course) at any merchant that uses the payment processing company’s PayPass program.
Vendors that have PayPass systems include McDonald’s, Rite-Aid, United Artist Theaters and BestBuy. A buyer would simply wave their phone at a PayPass terminal to complete the sale, rather than use their credit card. It sounds pretty cool, but today, no one in the U.S. could actually use their phone to buy a burger from Mickey D’s.
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