Smartphone-based cash transfer system makes the card redundant at MasterCard
AUSTRALIAN consumers will soon be able to ditch their plastic and use their smartphone or tablet to pay for goods.
MasterCard's Head of Market Development and Innovation Matt Barr says the new PayPass Wallet will allow customers to make quicker, faster payments online and in-store.
``It will become a mainstream electronic wallet across multi channels...it's a very exciting step into a world beyond plastic,'' he says.
``You are not typing in 16-digit numbers, you are not typing in your home address, it's all being securely stored for you in the PayPass Wallet Service.
PayPass services will be phased in from the third quarter of 2012 in Australia, the UK, Canada and the US.
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