PURCHASE, N.Y. – MasterCard announced yesterday its Over-the-Air Provisioning Service will allow credit unions and banks to load their customers’ cellphones with technology enabling them to use their phones as contactless PayPass devices.
Mobile MasterCard PayPass allows consumers to perform payment transactions with a swipe of their contactless cards or wireless devices at merchant locations with PayPass-enabled point-of-sale terminals.
In order for accountholders to use their mobile phones to make purchases, they need to have a cellphone equipped with Near Field Communications capabilities and a mobile data subscription.
First the PayPass application will securely be transferred onto a secure area of the consumer's cellphone via the mobile network. Next the PayPass application will be personalized with the consumers' individual credit union or bank account details. MasterCard has created a simple way for issuers to enable their accountholders to perform this process themselves over-the-air. The service will be made available to consumers through their issuing banks' websites.
