MasterCard, Weve team up to launch mobile payment systemFebruary 7, 2014 - 12:05 AMT PanARMENIAN.Net - Weve, the mobile wallet and marketing joint venture of the UK’s biggest mobile carriers, has announced a partnership with MasterCard that it hopes will accelerate the readiness of stores to take mobile payments, Gigaom reported. The idea of Weve, which launched last year after EU antitrust regulators gave it the all-clear (its members include Vodafone, EE and O2, but not Three UK), is to provide a clearinghouse for advertisers, retailers and banks who want to deal with phone users. If that provides a single point of contact on the carriers’ side, the MasterCard deal is intended to do something similar for the banks, so they don’t have to deploy point-of-sale (POS) technology individually. “Up until this point, banks would have had to individually invest in technology to enable mobile payments and enable them securely,” Weve CEO David Sear explained to me. “Now what’s happening is MasterCard is building the capability for banks to do that at very low cost.” Sear said the deal would lead to widespread rollout of mobile payments capabilities in British shops during 2015 – around 300,000 points of sale in the country can already accept contactless card payments, so this will largely be a matter of making those machines see suitably-equipped phones as cards. The phones will use NFC-enabled SIM cards, so they won’t need to have NFC built into the handset as such. However, Apple’s longstanding NFC allergy will mean iPhone users won’t get to join the party. Related links: Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." Partner news Most popular in the section | Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. Aliyev says no need for mediators in Armenia-Azerbaijan process Azerbaijani President Ilham Aliyev believes that Baku and Yerevan do not mediators in the process of normalizing relations. Aram I supports Karekin II’s “patriotic position” Catholicos of the Great House of Cilicia Aram I has expressed support for the Mother See of Holy Etchmiadzin. |