MasterCard launches mobile payment solution addressing multiple handsets

Solution enables cardholders to use their existing mobile phones to make everyday payments.

MasterCard Worldwide on Tuesday announced a collaboration with Gemalto to pilot a Near Field Communications (NFC) device equipped with the Gemalto Upteq N-Flex Solution that supports MasterCard® PayPass™. The Upteq N-Flex solution is an industry first as it is able to function on multiple mobile handsets, helping provide a path to ubiquity of handsets supporting NFC. The solution is also the first of its kind conforming to the Single Wire Protocol (SWP) as endorsed by the GSM Association (GSMA).

The Upteq N-Flex wafer-thin device can be inserted into an array of existing handsets to transform them into a payment device.

According to a study on mobile payment markets conducted by Juniper Research, gross transaction value of mobile payments is expected to reach USD300 billion globally by 2013 indicating the significant revenue potential the segment represents for banks as well as services providers. In order to spur market growth, MasterCard has been working with the industry to establish infrastructure, business models and standards for mobile payments.

The initial trial of this mobile payments solution kicks off in Singapore, as MasterCard collaborates with DBS Bank, EZ-Link Pte Ltd, and StarHub. DBS and EZ-Link FEVO MasterCard cardholders can look forward to using their existing StarHub mobile phones to make everyday payments.

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