(via Mastercard)


Mastercard introduces PayPass to the main stream in 2011, calling it the next generations’ way of electronic payment. President of MasterCard Chris McWilton stated, "We're moving toward a world beyond plastic, where consumers will shop and pay in a way that best fits their needs and lifestyles with a simple tap, click or touch in-store, online or on a mobile device."


One of the biggest worries when having a credit card is theft and the debts that follow. A required PIN entry is required with every PayPass use. Somewhat old in concept, it could be effective compared to those who simply forge the card holders signature. The system moved on from the black magnetic strip and added EMV (Europay, Mastercard, Visa) technology instead, aka a chip inside your credit card.


PayPass readers also work wirelessly, just get the card in close proximity with the receiver.  Accidently tapped twice for the same item? Do not sweat it because it recognizes the mistake and only bills you once.


PayPass provides an app on Android phones called "PayPass Locator," which helps users locate merchants. On the app, one can search for types of businesses or get a list/map of merchants in the area. The regular gambit of features are found in the app. Click on merchants for more info, send the location to friends, send SMS text from within the app as well.



The PayPass system will soon be available on Android phones, negating the need to carry cards. Google Wallet is a mobile payment system that stores every type of credit card onboard the phone/device, including gift cards, loyalty cards, etc. Using near field communication (NFC), the phone can transmit the same data is the same way as the PayPass cards. Like the cards, PIN entry is needed on every transaction. The only device that can perform these tasks is the Nexus S 4G from Sprint. However, several more phones are set to use the tech. Google also mentioned partnering with Apple, Microsoft, and RIM on adding Google Wallet to their devices.


As of 2011, there are over 300,000 PayPass merchant locations. In other words, the ecosystem has not permeated deep into our daily lives just yet. Using the system, appears to be an inevitability, for better or for worse.




Of couse, the hacker community is hard at work tearing down this system by eavesdropping on Google Analytics, app monitor, of phone users. Although recently fixed, more surface everyday. How we just carry cold-hard-cash?