Visa and MasterCard are trying to make mobile payments a lot more accessible today as they both announce support for a new way to pay over NFC. Both companies are beginning to allow their cards to be stored in the cloud for NFC payments, letting even more consumers check out at stores just by tapping their smartphone to a reader. Previously, doing so generally required that a phone have — and allow access to — a "secure element" for storing the card, but that will no longer be necessary.
Source: The Verge - All Posts http://j.mp/OaxlXT
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