NFC version of the Smart Pass prepaid card
The Italian arm of mobile phone operator, Vodafone, is partnering MasterCard to trial mobile payments in Milan. The project will allow users to make payments for goods and services with an NFC version of its existing Smart Pass prepaid card. Customers will be able to make payments at the estimated 10,000 MasterCard PayPass terminals currently installed in Italy, with plans to increase this number to 150,000 by 2013, according to Vodafone.
Vodafone Italia hopes the pilot, which will begin in mid-October, will result in a nation wide roll out of the service next year.
Whitepapers
Related reading
Central banks best suited to issue digital currencies
By Aaran Fronda A recent report by the Official Monetary and Financial Institutions Forum (OMFIF) said that central banks rather than private ... read more
Instant payments: innovations inbound for corporates
In 2020, instant payments look set to continue their current trajectory to become the biggest trend in payments. While these schemes already offer numerous benefits to corporates, leveraging innovations such as APIs and request to pay will go some way to unlocking their full potential, argues Michael Knetsch
Obstacles exist for banks to meet ECB’s instant payments goal
The cost of joining instant payment platforms will be one of many hurdles banks and payment services providers must overcome to meet ... read more
Banks must be aware of “biases” in data used to train ML models
Financial institutions need to be conscious of biases in the historical data that is being used to train machine learning (ML) models, ... read more
