17:44, 21 April 2008 Page views 481 views

A standard reader for contactless payments is coming

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According to standards organization EMVCo, in 2008 banks and merchants outside of the United States will have the option of installing standard contactless readers that can accept payment from contactless cards, fobs or mobile phones with a Visa payWave, MasterCard PayPass or JCB J/speedy application onboard. At present, however, a contactless EMV application from Visa Inc. generally won’t work on the same terminal as one from MasterCard Worldwide or from JCB.

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