No more credit cards?
Print Edition
Visa and MasterCard are introducing Internet-based technologies to make it easier for shoppers to buy things at retail stores without pulling out a credit card.
The two technologies will give merchants and banks more options for incorporating so-called contact-less payment systems into their mobile apps. The customer uses the app to make purchases by tapping the phone to a store’s card reader.
The technologies tap a new feature in Google’s Android operating system. Before, card information had to be stored on a secured part of the phone. Now it can be stored remotely. A retail or banking app on the phone then retrieves what’s needed to complete the transaction.
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