Visa, MasterCard ‘excited’ by Apple Pay

Apple's April: Apple Watch, Apple Pay international, will we learn more on Beats, too?

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Where it’s at

Right now the action’s all about Apple Pay, and when you consider that the Apple Watch will enable a few million more iPhone users to use the service, Apple seems set to maintain the momentum in the mobile payments space.

That momentum means “over 500” Visa clients have “signed the Apple Pay contract,” Scharf said, though he noted that deploying the NFC-based payment terminal infrastructure will take time.

MasterCard remains focused on NFC as the solution for mobile payments, but has said it will incorporate tokenization technology into its MasterPass digital wallet in the near future, a clear nod to the success of these technologies within Apple Pay.

“We are very focused on tokenization; it’s a very important aspect of where we’re going for safety and security,” Banga explained during MasterCard’s call last week. “Apple Pay was the first version of that to come out. We’re putting it into MasterPass, just regular MasterPass, over the next period of time.”

There’s a lot to play for – around one-in-five US consumers intend using mobile wallets in the next year, according to a recent Fico survey.

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Copyright © 2015 IDG Communications, Inc.

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