MasterCard is reported to be working with Ask, the French smart card company, to develop a paper-based version of its Paypass contactless credit and debit card system.
The aim is to develop a paper-based smart card that can be thrown away or recharged, and offered to travellers of mass transit services like the New York Subway or the London Underground.
According to Kathleen Reilly, a spokesperson for MasterCard Worldwide, in a subway environment, limited-use, paper-based contactless fare tickets could replace standard mag-stripe fare cards for riders who don't have a PayPass-enabled payment card.
"This solution would enable all riders to tap their way through the turnstile," she said.
Sounds interesting - it'd be a lot better than the current mag stripe cards used on, for example, the London Underground, since the cards would just need to be tapped or waved over the reader.
And better than the Oyster card system on London Underground, where cards cost three quid to sign up for the service. With a paper-based MasterCard, the cards would effectively be disposable...