MasterCard Transforming Everyday Devices into Mobile... - Card Issuers News


ADVERTISING DISCLOSURE: is an independent, advertising-supported web site. receives compensation from most credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » News » Card Issuers » MasterCard Transforming Everyday Devices into Mobile Wallets

MasterCard Transforming Everyday Devices into Mobile Wallets

MasterCard Transforming Everyday Devices into Mobile Wallets
The content is accurate at the time of publication and is subject to change.

What if you could pay for your latte with your ring, or pay for your gas with your key chain, without leaving your car? Well, if MasterCard has its way, that’s exactly what’s in your future, having developed a new program letting consumers pay with everything from jewelry and wearable devices to fashion gear and automotive accessories.

MasterCard has teamed up with a variety of brands, designers and retailers to create this program, and turn their devices into mobile payment centers. Their current partners include General Motors; Nymi, a wearable tech company; Ringly, a creator of smart jewelry; TrackR, a company that creates Bluetooth locators; and fashion designer Adam Selman. Some of the prototypes in the works include a key Fob from GM, a wristband from Nymi and a ring designed by Ringly.

According to MasterCard, this is just the beginning these technologies can be used to let just about any device make payments. “As more and more ‘things’ become connected, consumers will have endless possibilities when it comes to how they pay, and will need all of their devices to work seamlessly together,” said Ed McLaughlin, Chief Emerging Payments Officer at MasterCard.

The new digital wallet gadgets will be for sale in the U.S. starting in 2016, and are expected to be rolled out in other counties later.

Capital One on board

Capital One has signed up to be part of the program, and is the first one to do so, letting their cardholders pay with more devices, once the technology is launched. They will be using it with Capital One Wallet, which will use tokenization to keep people’s data safe, while also providing users with real time notifications about account activity.

This program is rooted in the MasterCard Digital Enablement Service (MDES) and the Digital Enablement Express (Express) program, which provide tokenization, so that rather than people’s financial information being relayed during transactions, a token is transmitted instead thereby safeguarding people‘s data.

To make this new Back to the Future -style program possible, MasterCard also partnered with NXP and Qualcomm Incorporated to create the technology that makes it possible to make any device a digital wallet.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
Add to Favorites:

Related News:

Dick's Sporting Goods Credit Card Coming Soon
Dick's Sporting Goods Credit Card Coming Soon

Posted: May 16, 2016

Dick’s Sporting Goods is teaming up with Synchrony Bank to relaunch the sporting goods retailers’ Rewards of Sport credit cards offering up to 6% back in rewards and other extras. Continue reading

Citi and Sears Giving More
Citi and Sears Giving More

Posted: November 01, 2016

People with the Sears MasterCard will now be earning more Shop Your Way points when shopping, eating out and pumping gas. Continue reading

The Savor Card from Capital One
The Savor Card from Capital One

Posted: October 19, 2017

People with the Savor card can also use contactless technology when checking out. This means that they can tap their cards at the register when they are using contactless-enabled credit card terminal. Continue reading

Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
The Citi Rewards+℠ Card - the only credit card that automatically rounds up to the nearest 10 points on every purchase - with no cap.
For Excellent, Good Credit
Earn unlimited 1.5% cash rewards on all purchases.
For Good, Excellent Credit
See Rates & Fees
Perfect credit not required for approval; we may approve you when others won’t
For Fair/Bad Credit
You've successfully subscribed!

Please specify the following:All these fields are optional

Your Credit History
Themes you are interested in:

By providing this information you help us make our news letters more useful and informative. Thank you!