MasterCard announced the launch of the MasterCard Over-the-Air
Provisioning Service, that enables
issuers to perform over-the-air personalization of their cardholders'
mobile devices in an easy, one-step process. The service allows issuers
to implement PayPass on mobile programs in a reduced timeframe with
minimal development and implementation effort. Mobile MasterCard
PayPass enables mobile devices to perform payment transactions at merchant locations with PayPass-enabled point-of-sale terminals.
Global annual mobile phone payments are expected to grow more than
tenfold between 2008 and 2013, according to the Juniper 2008 Mobile
Payments Study. The MasterCard Over-the-Air Provisioning Service will
allow issuers to move more aggressively into the mobile payments space
and capture a share of this transaction volume more quickly and with
reduced up front investment.
How the MasterCard Over-the-Air Provisioning Service Works
In order for accountholders to use their mobile phones to make
purchases, they need to have a mobile phone equipped with Near Field
Communications (NFC) capabilities and a mobile data subscription. First
the PayPass application is securely transferred onto a secure area of
the consumer's mobile phone via the mobile network. Next the PayPass
application is personalized with the consumers' individual payment
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.
About the MasterCard MobileT Program
MasterCard is
leading a new wave of mobile payment innovation that is creating a more
efficient system of global commerce, displacing cash and making
transactions faster, easier, and more secure for consumers, merchants
and financial institutions. Through the MasterCard Mobile Program,
MasterCard is focused on delivering products and services that combine
payments and communications onto one "anywhere" consumer device
including: contactless payments, person-to-person payments, mobile
commerce, mobile top-up and reload, and information and marketing
services. Numerous MasterCard mobile trials are underway or have been
completed in high-potential markets around the world.