First Multi-Platform Mobile Wallet released by DeviceFidelity and SpringCard

Moneto, designed by DeviceFidelity, is working alongside MasterCard to provide mobile wallets to iPhone users, with Android smartphone capability to be made available by the second quarter. The new wallet was announced at the 2012 CES tradeshow. Consumers can purchase their iPhone case from for $79.95 and can then make purchases at any of the 120,000 merchant locations supporting MasterCard’s PayPass service. The wallet works with an NFC-enabled Micro SD chip embedded in the case, and will be similarly applied when it comes out for the Android smartphones. The account is also linked to a prepaid MasterCard account.

The device will also enable its users to access ATMs to take out their cash, check their balance and use money transfer services, while at the same time being secured by a Pin protected inside the SD chip. The prepaid account is also protected by MasterCard’s Zero Liability, which the new partnership is hoping to sway those customers who are still wary of contactless payments.



Related reading

Leave a comment