Contactless Smart Cards, RFID, Payment, Transit and Security

Visa showcases future of money in Middle East

Thursday, March 5, 2009

Visa highlighted several overall trends in the payments industry, including the convergence of electronic payments and mobile phones, at a briefing in Dubai, United Arab Emirates. Also mentioned were the continued growth of the internet as a payment channel, the expansion of electronic payments into new acceptance locations such as transit and vending machines and the need to extend electronic payments to the millions of un-banked or under-banked consumers around the world.

The company also demonstrated a variety of transactions using the contactless Visa payWave technology, paying a fare at a transit turnstile, buying products in vending machines and completing a purchase at point-of-sale terminals. Mobile payment services such as mobile offers, alerts and money transfer, using a NFC-enabled handset, also were showcased.

Read more here. [end] 

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