This article was originally published by RFID Update.
October 13, 2004—Motorola wants to see a new kind of technological convergence: the kind that combines your wallet, key chain, and identification. The company will be partnering with MasterCard to roll out a contactless payment system using the credit card giant’s nascent PayPass technology. The idea is for consumers to be able to make small purchases by swiping their cell phones in front of a point-of-sale reader. Motorola sees it as a way to drive sales of its phones. MasterCard sees it as a way to increase volume by finally signing up fastfood chains and other low ticket item merchants that have historically resisted accepting credit cards because of the high processing fee-to-cost ratio. And the RFID industry? Well given that the PayPass system relies on what is essentially a glorified RFID tag, we see it as a driver of tag sales. It also foretells of a time when consumer-facing RFID applications constitute a far larger piece of the overall market than they do now.
Read the article at internetnews.com
