Archive for the ‘Mobile Wallet’ Category

Subway to Use Contact Less Payments with NFC Devices

Subway, the largest restaurant chain in the United States to accept contactless payments.The new tap and go payment readers will be implemented at more than 7,000 United States locations by the end of 2012.

Subway consumers can tap their PayPass-enabled MasterCard card, phone or device on a PayPass-accepting reader at check-out.

According to MasterCard, PayPass does not require customers to sign receipts for purchases under $50.

Mastercard is a global payments and technology company, It operates the world’s fastest payments processing network.

OfficeMax uses NFC payment through Google Wallet

OfficeMax is letting in-store customers pay via Google Wallet to deliver a faster, personalized in-store shopping experience.

OfficeMax is the latest retail chain to join the growing list of merchants who are accepting Google Wallet NFC payments. OfficeMax are also utilizing Google Wallet along with their MaxPerks Rewards loyalty program that will enable customers to pay, redeem coupons and reap the benefits of OfficeMax’s MaxPerks. The Google Wallet NFC payments are currently limited to greater New York, Chicago, Los Angeles, San Francisco and Washington D.C. markets.

The Google Wallet app is available on the Sprint Nexus 4G phones. It stores virtual versions of a customer’s payment and rewards credentials and uses near field communication technology to make payments by tapping the phone on the MasterCard terminals.

Near Field Communication

Near field communication, or NFC, allows for simplified transactions, data exchange, and wireless connections between two devices in close proximity to each other. Co-invented by NXP Semiconductors and Sony in 2002, NFC technology is being added to a growing number of mobile handsets to enable mobile payments.

The Near Field Communication Forum (NFC Forum) formed in 2004 promotes sharing, pairing, and transactions between NFC devices and develops and certifies device compliance with NFC standards.

NFC devices can read NFC tags to get more information or an audio or video presentation. NFC can share a contact, photo, song, application, or video.

Uses of NFC:

It is used in Social Networking to instantly share a contact, photo, video or a url.

It expands eCommerce opportunities increases transaction speed and accuracy which in turn increases productivity.

An NFC device may make a payment like a credit card by touching a payment terminal at checkout or a vending machine when a PIN is entered.

Tap an NFC device to purchase rail, metro, airline, movie, concert, or event tickets.

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