MasterCard goes mobile with PayPass

MasterCard on your mobile

MasterCard has teamed up with Giesecke & Devrient (G&D) to develop an over-the-air mobile personalisation system designed to make it easier for consumers to use their mobile phones to pay with PayPass.

Yet to be launched in the UK, PayPass is contactless smart card system that allows MasterCard users in the US and Asia to wave their card at a terminal - rather like the London Underground Oyster card scheme.

The mobile link-up takes PayPass to a new level and effectively allows mobile phone users to pay with their mobile. Not bad eh? Mind you, if you lose your mobile phone, you are well knackered...