Potentially this area could be one of the largest as it would
replace a wide range of other limited or proprietary systems
such as contact-less credit card (MasterCard PayPass), pre-paid
and post-pay key fobs (Amex ExpressPay), contact-less MasterCard
(Nokia and MasterCard Smartcover), u-commerce (Visa and Phillips)
and EDY, an e-purse application popular in the Far East markets
especially Japan.
Murdo Munro, VP of mobile and wireless at MasterCard, is
quoted as saying at a recent conference that his company is
trying to eradicate the use of cash and use contact-less technologies
such as NFC to lower the margin of entry for cash-based merchants
to accept electronic payments.
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