Apple taking NFC payments mainstream with iPhone 5

Ed McLaughlin, MasterCard’s head of emerging payments, sat down with Austin Carr of Fast Company to discuss the future of credit cards. “We’re rapidly moving to a world beyond plastic,” said McLaughlin. “In many ways, plastic is just convenient packaging.” The future of on-the-go payments may lie in the hands of near-field communication but unfortunately, adoption and availability have been extremely slow and limited. While NFC technology has been featured in a number of Android devices, MasterCard seems to think it won’t go mainstream until an iPhone is equipped with the mobile payment solution. Read on for more. “The timeline is always as rapid as it makes sense for consumers,” McLaughlin said. “That’s a combination of having a critical mass

Source: http://www.bgr.com/2012/01/31/apple-to-make-nfc-payments-mainstream-with-next-gen-iphone/

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