August 13, 2008 11:16pm
Back in May MasterCard announced an upcoming trial with Bell Mobility customers that allows them to pay for goods or services via their mobile phones. The trial has officially started and runs until November 2008.
Participants on the trial can use their mobile phone to make “contactless” payments at any merchant that accepts MasterCard PayPass (24 million locations such as fast food restaurants, gas stations, grocery stores and convenience stores). No signature is not required for purchases under that is under 50 bucks. All you have to do is tap your phone (within 2 inches) to the payment reader and watch your credit card statement easily increase…The dollar amount will show up on your monthly credit card statement.
As for the safety of the mobile phone payments: “Thanks to special security technology, contactless payments are as safe as traditional card payment transactions. Contactless payments also provide more consumer control, since the mobile phone doesn’t have to leave your hands to be swiped by a merchant/retailer. All PayPass enabled mobile phones are protected with Zero Liability coverage for any fraudulent transactions.”
More info here at MasterCard Canada