Mastercard is rolling out their trial of a new “Tap N Go” mobile payment system through their Mastercard PayPass infrastructure in New York City. The “Tap N Go” system utilizes NFC (Near Field Communication) enabled phones that Mastercard arrogantly calls “PayPass-enabled” phones. The technology is only fitted to a handful of handsets so we can’t imagine that the trial will be widely popular. Still, this is definitely a step in the right direction. We’ve been wuite envious of Asia and their eWallet capable mobile phones – now we get some “Tap N Go” action of our very own.
The system works just like Mastercard’s PayPass system, but instead of swiping your PayPass at participating locations, you will tap your mobile phone to PayPass module. Payment processing is handled in the same way and a payment confirmation is sent to the handset immediately after a purchase is made. And, being Mastercard, they offer zero liability on fraudulent charges.
If you’re in NYC and happen to have a
“PayPass-enabled” NFC-enabled phone, check out this new service and let us know what you think!
Find more info here.