Visa has now certified 10 phone models for PayWave and Mastercard has certified 2 models for PayPass, is this great news or? Do they also have to be certified for “card emulation mode” (read NFC scheme), first by Visa and MC and then by next card company and then next and next, etc. This is of course a process (time and admin) and a cost, even though the process is not as heavy or expensive as the PCI DSS certification of for example payment terminals. By the way is Square (the mobile payment terminal) certified for Visa yet?
Mobile payment solutions on the market today and using other technologies is compared to above;
- as secure – or more secure, no card info stored on the mobile or communicated to the payment terminal
- ease of use – simpler to get started and to use in a payment situation
- more flexible – working in all payment situations not only at POS
- independant – example; works not only with NFC, but also with RFID and one-time-, bar- and QR-codes, and with all carriers, networks, etc.
- and much more cost effective – no certification need, no extra/special hardware/secure element storage in phone, less admin, etc.
More to come..
The article on Visa certification here.