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MasterCard Tries Wireless Payments

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MasterCard is running a trial of a wireless payments system in Canada. If you're tired of carrying your cash and card around, it's definitely something to look forward to.

Participants in the MasterCard Canada Mobile Payments trial will be among the first in Canada to try this exciting new wireless payments technology.

From August 2008 to November 2008, trial participants will be able to use PayPass enabled mobile phones on the Bell Mobility wireless network to pay at all retail locations that accept MasterCard PayPass

The benefits should be immediately evident. You don't have to fall in line at the counter. Similar to credit cards, you're paying the exact amount of what you bought, eliminating the need for change. However, this one has the added convenience of "tapping". As you can see from the picture above, you simply need to tap your phone on the receiver to make your payment, so you don't have to sign anything.

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