Not to be outdone, Mastercard is piloting contactless payment–called PayPass™– in Orlando, Florida. In a project announced on December 12, 2002, the payment card association detailed its launch of a contactless card that holds and transmits the same data that is contained on track 2 of the magnetic stripe (the data used to route and process transactions within the processing networks) from card to reader. Like Visa, Mastercard is using contactless technology based upon the ISO 14443 standard.
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