Prepaid card contactless payment 'on the way'
19 March 2010 16:43:56
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| Prepaid card customers could soon make payments from their phones. |
Prepaid card customers could soon be able to use a special chip which will allow them to make contactless payments from their mobile phones, it has been confirmed.
FirstData Corporation is planning to test 'SideTap', a payment component which can be installed into the memory slots of handsets which accept standard MicroSD cards.
The company has joined forces with mobile contactless payment provider Tyfone for the project and believes that the technology could help consumers to pay for goods and services in retail outlets.
"We see the MicroSD as another stepping-stone in the evolution to near-field communication and contactless payment inside the handset," Dom Morea, First Data's division manager of mobile commerce solutions, told American Banker.
The card is capable of containing financial information and secure identification from a number of sources, while also being able to store photos, videos, music and other files.
Prepaid cards are a popular choice among holidaymakers as they offer security advantages over conventional debit and credit cards.
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