Two Recent Digital Payment Announcements

Both Visa and MasterCard announced new digital payment programs at this year’s Mobile World Congress.

MasterCard is unveiling a new MasterPass platform which will provide a “wallet in the cloud” type service.  One of the more interesting features is it will use NFC.  Previous cloud based wallet providers like PayPal have been talking down NFC technology.  More likely most digital wallet information and features will be cloud based but NFC will facilitate authentication and communication of some value add information.  It may also be used to hold small amounts of digital cash.

Visa announced it is ramping up it partner program known as Visa Ready Partner Program and released the Visa Ready logo which will inform consumers of the devices Visa capability.  Visa’s wallet is currently only available online in the US but is expected to test at retail POS later this year.

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