Visa was at the Barcelona Mobile Fair to promote a new mobile phone for payments technology. The Mobile payWave system allows contactless payments without requiring PIN or signature. Just move the phone by the terminal and the transaction is completed in a few seconds. The new technology allows securely transmit payment information.
“The consumer can add to your mobile credit card.
It is a simple activation process where the person is registered.
> By adding the credit card to the phone, it creates a unique digital number associated with the phone, which makes safe operation. It’s like using a credit card. They can use the system to make payments in places where the system is implemented. No differences for the consumer, is to use the same plastic or use the phone. If your phone is stolen, the card number that was associated with the device can be disabled, “said Prasanna Laxminarayanan, vice president of Visa’s innovation department.
According to the North American financial services company the Mobile payWave technology should be released soon in Europe.
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