DeviceFidelity has developed In2PayTM which allows Apple iPhone users to make contactless transactions by using a microSD based app and In2Pay case.
The iPhone fits into the In2Pay case and works with iPhone 3GS and iPhone 3G. Payments can be made by waving the iPhone in front of a contactless payment terminal.
DeviceFidelity and Visa worked together to develop the use of Visa PayWave and In2Pay which has now been extended to the iPhone.
“Visa is working to bring the security and convenience of digital currency to mobile users around the world,” said Dave Wentker, Head of Mobile Contactless Payments at Visa Inc. “Our collaboration with DeviceFidelity can extend the reach of Visa mobile payments to millions of iPhone users.”
It can be password protected and if you lose your mobile your account can be deactivated.
The product will be tested during the second quarter of this year.
For more information see:
Watch the video on YouTube http://www.youtube.com/watch?v=TrX8ELi04Tw&feature=player_embedded
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Using your iPhone to Pay by Visa