Thursday, December 22, 2005

Paying For Items With Your Cellphone, Priceless

The cellphone is taking on more functions and turning into the "remote control" for your life.

From CR80 News Contactless payments expected to show dramatic growth

In the U.S. MasterCard also continues to work closely with handset manufacturers to pilot the use of mobile phones as contactless payment devices. We have made great progress with the technology involved.

Can you see how Mastercard could use this as a powerful mobile marketing tool?

We have now integrated PayPass technology into the actual phone itself. Although we do not expect commercial availability of this option in 2006, we believe this payment option shows great promise in the future.

Do you know what Mastercard could offer as an incentive for this service?

Since contactless payments offer consumers a fast, convenient and secure alternative to cash, their purchases are no longer limited to the cash in their wallet--a win for them and for merchants.

How will this affect PayPal? Lots of things to ponder with this.

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