MasterCard has dismissed criticism its radio frequency identification-based (RFID) PayPass credit card may be susceptible to skimming and interference amid retailer trials of the technology.
MasterCard has announced the first trial of its radio frequency identification (RFID) credit card technology in Australia, which allows card-holders to make small payments without supplying a signature or personal identification number for verification.
MasterCard Worldwide is joining with the Commonwealth Bank -- and playing on Australians' love of their mobile phones -- to launch its PayPass cashless payment system down under.
With both MasterCard and Visa testing smart card technology, miniature computer chips and radio antennaes are set to take over from the tell-tale magnetic strips which have so long been core to card-based transactions.
The technology that could eventually make your bus pass, bank card and coins obsolete is already here -- and it's on its way to your phone.
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