Card issuing institutions to get a helping hand from MasterCard

[img_assist|nid=8579|title=|desc=|link=none|align=left|width=100|height=80]In a move to enable card issuers to perform over-the-air personalization of their cardholders’ mobile devices in an easy, one-step process MasterCard introduced its new MasterCard Over-the-Air Provisioning Service program. The initiative is intended to help issuers accelerate implementation of MasterCard latest technologies and successfully extend into the mobile payments market.

Under the new program card issuers will be allowed to implement PayPass on mobile programs in a reduced timeframe with minimal development and implementation effort. With the MasterCard Over-the-Air Provisioning Service issuers will be able to move more aggressively into the mobile payments space and capture a share of this transaction volume more quickly with reduced costs.

Mobile MasterCard® PayPass™ enables mobile devices to perform payment transactions at merchant locations with PayPass-enabled point-of-sale terminals. It is an innovative contactless payment technology that allows customers to make their payments with just a simple tap of the card over the PayPass reader -- no signature or PIN required.