Visa's New Program Transforms Smartphones into E-Wallets
Major credit card and mobile technology companies are developing and piloting new technologies that provide a better way to pay for subway, train and bus fares. One example of this technology is Visa's payWave initiative that transforms smartphones into e-wallets. Online industry news source PSFK reported in September that PayWave is being piloted in New York and New Jersey transit systems. The payWave demo provides an understanding of how contactless payment technology works in general.
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