MasterCard Canada and Bell Mobility have launched a trial for Mobile Payments via mobile phone.
Just one tap of a Citi MasterCard PayPass enabled phone on the PayPass reader at participating locations and you’re good to go. It works just like a traditional MasterCard card-but no more swiping or giving your card to cashiers. No fishing for coins or waiting for change. PayPass makes the transaction process simpler and quicker for all-at fast food restaurants, gas stations, grocery stores and convenience stores.
Purchases will then appear on the cardholder’s monthly statement like any other credit card purchase. Most transactions under CAD$50 do not need a signature.
The technology behind PayPass is already in use in some credit cards and other devices (eg, gas station fobs). It uses NFC (Near Field Communication) to securely transmit and receive information over a short range (no more than a few inches) and Over the Air Personalization to initialize the phone with the information necessary for the transaction.
The trial will run until November 2008. PayPass enabled mobile phones on the Bell Mobility wireless network are required for the trial.