Mastercard turns phones into contactless payments terminals

August 30, 2017

Mastercard is prepping a pilot that will see small businesses in Poland able to accept contactless payments with only a smartphone.

Starting in the Autumn, the trial will see several hundred small and micro businesses from all over Poland accept contactless card and mobile payments of up to PLN50 using just a phone and dedicated app – no dongle.

Mastercard is working with Elavon, Mobeewave and Polskie ePłatności on the project, for which it says it has developed “specific security principles”.

Poland has a strong contactless base but a recent study commissioned by the Polish Foundation for Development of Cashless Payments shows that among entrepreneurs that gave up card or mobile payments, 36% did so because of the associated costs.

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