The wallet enables NFC functionality on an iPhone, allowing users to tap and pay for goods at thousands of MasterCard retail outlets across the country. An Android version for the app is expected to be rolled-out across other European countries by the end of 2013.
moneto integrates NFC technology into a consumer’s mobile phone using the DeviceFidelity patented microSD NFC technology and combines it with an application to offer the benefits of prepaid in a secure and mobile environment. Users can access account information on the move, check their balance in real-time, locate merchants and ATMS and make wallet-to-wallet transactions.
The moneto wallet uses a combination of the MasterCard PayPass technology and DeviceFidelity’s iCaisse technology to enable tap & go payments on the iPhone. Android and iPhone 5 compatibility, as well as service roll-outs to other European markets, is set to be announced soon.
In recent news, global money transfer company MoneyGram has closed an agreement with DeviceFidelity to become the exclusive money transfer provider for the latter’s moneto mobile financial service offering. The new service is available to moneto users on iPhone and Android platforms.
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