MasterCard embeds NFC technology into SIM cards

Contactless payments made possible on all GSM phones

MasterCard brings NFC magic to old phones with its new PayPass SIM

A collaboration between Mastercard and digital security firm Gemalto is set to bring the same Near Field Communications handset swiping payment tech to a host of new phones, reports suggest.

The alliance has produced the new MasterCard PayPass SIM card, a SIM embeded with NFC technology onto the card itself making contactless payments possible on all NFC-capable devices that are currently lacking the NFC chip. Currently Android 2.3 supports NFC, and rumours suggest that Windows Phone 7 will also include the tech in a further update.

Although we currently have very limited options for making NFC payments here in the UK, Gemalto and MasterCard hope that this move will "pave the way for mass commercial rollouts of NFC payments across the world."

The technology could also be used for identification to gain access to buildings or as a ticket for concerts and hopefully one day could replace the Oyster card or indeed any ticket for public transport.

At the moment it is unclear whether Gemalto's mobile software will be universal across different platforms or if they will have a tailored SIM for each individual OS.

Are you looking forward to a wallet-less future? let us know on the T3 Facebook and Twitter feeds.

Via: Oyenuye