Since contactless payments such as PayWave has not gained the popularity that Visa initially anticipated they are coming up with new ways to put contactless payments at the fingertips of users.
Visa now allows users to use their iPhone to make payments. The payment is facilitated by a modified MicroSD card with a near field communicator. This system is called In2Pay.
The idea is to provide the consumer with the option to make payments without having to carry a credit card in a a wallet. The customer keeps the chip in the iPhone case and taps it against the reader when they are ready to pay. All the customer would need to carry is their cell phone case.
Once more phones use MicroSD Chips this will become more popular.
This is all in an effort to promote contactless payment which in my opinion will soon be the most popular means of payment.
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