MasterCard and Citibank introduce PayPass
10 September 2008In the beginning of October international payment system MasterCard and Citibank are going to introduce the project on use of technology of contact-free payments - PayPass in the Moscow transport.
PayPass technology is widely used for payment of the goods - it is simply enough to put a card with the special built in microprocessor to the terminal. By function PayPass can be equipped not only to MasterCard, but also a watch, a charm, a mobile phone or any other subject, which person has got used to carry daily. The similar technology payWave exists at Visa system. In Russia it is used only for using Moscow underground by means of Moscow Bank’s Visa Electron cards.
PayPass - is very useful technology in the industry with low cost of transactions and with high frequency of transactions, for example as transport. The technology will have a wide circulation in the future, but for this purpose it will be necessary to strengthen safety of transactions.
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