MasterCard Prepares to Offer PayPass on Embedded Chips in Samsung NFC Phones

MasterCard Worldwide is the latest payment scheme to work with Samsung Electronics, with plans to soon offer its PayPass application for embedded chips in new Samsung NFC phones, NFC Times has learned.

MasterCard, like Visa Inc., sees embedded chips in NFC phones as a promising option for banks and other issuers to introduce mobile payment at the physical point of sale in certain markets, using contactless point-of-sale terminals that support their contactless brands.

Visa announced a partnership with Samsung in February, saying its payWave application would be preloaded on the embedded secure element in new Samsung NFC devices, which could be personalized over the air. Visa is offering its mobile provisioning service to banks or other payments service providers to personalize the payWave applets on the chip.

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HEADLINE NEWS

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