Mastercard previewing smartphone internet payment system with in-person security strength

Mastercard is already a big fish in the still tiny NFC contactless payment pond, and now it wants to take that same technology to a veritable ocean -- internet sales. The plastic purveyor is tag-teaming with ING in the Netherlands for PayPass-based smartphone internet payments that would have a "comparable level of security" to bricks and mortar purchases -- by transmitting an EMV-compliant cryptogram or QR code to merchants. That would theoretically make online shopping less risky, and the system would also allow coupons and vouchers to be applied, giving a "similar user experience in both the physical and digital world." The Dutch trial has already started and will continue until early 2013, but there's no word if new users can still jump in -- check the PR after the break to read the tea leaves for yourself.

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Filed under: Cellphones, Tablets, Internet, Mobile

Mastercard previewing smartphone internet payment system with in-person security strength originally appeared on Engadget on Wed, 07 Nov 2012 10:03:00 EDT. Please see our terms for use of feeds.