“The support of Mobile PayPass is a big step forward from so far used MChip PayPass systems” says Richard Walitza, VP, Mobile Payments & Innovations at MasterCard Europe. “With our latest technology the consumer has full control on his mobile payment experience. We are glad NEXPERTS is offering a fully certified PayPass enabled wallet to banks and MNOs”.
For end-users this new way of payment is practical, easy and secure. Consumers pay small amounts (typically smaller than 25 Euros) by just tapping the phone on the payment terminal. In this “automatic payment mode” low value payment transactions will be accepted immediately without any further confirmation. A high value payment is either approved by means of using a PIN on the mobile phone, which requires a second tap or by entering the PIN on the payment terminal. The user can also change settings from automatic to “manual payment mode” which requires the PIN-entry also for small value payments.