Turn Your iPhone Into A Credit Card With Visa’s In2Pay Case
Visa has partnered with a company called DeviceFidelity to launch a new iPhone accessory that will enable users to make payments from their iPhone in much the same way as they do with their credit cards.
The new system, named In2Pay, will work at the several thousand retailers across US who allow the RFID-supported no-swipe payment system.
In a recently published media statement, Visa notes that the technology will work with the help of a microSD card that is equipped with a near-field communications chip. This microSD card needs to be connected to the iPhone using an In2Pay case that may be plugged to the iPhone's dock connector. The chip will then be able to interact with Visa's payment app on the user's iPhone.
To perform a transaction, users will have to simply launch Visa's payment application and once this is done, wave the iPhone in front of contactless payment terminal. Users may also choose to password-protect the application in order to prevent misuse. Like regular credit card transactions, the In2Pay system will also uniquely identify individual transactions for later perusal.
Speaking about the partnership with DeviceFidelity, Dave Wentker, the Head of Mobile Contactless Payments at Visa says:
“Visa is working to bring the security and convenience of digital currency to mobile users around the world. Our collaboration with DeviceFidelity can extend the reach of Visa mobile payments to millions of iPhone users.”
This is pretty cool as we will have one less thing to carry in our wallet though it means that if you lose your iPhone, you don't just end up losing just your mobile phone but also your credit card. But with a passcode lock for your iPhone and password for the application, it is probably safer. It will be interesting to see if users will find it practical enough to carry their iPhone with a case and SD card.
By the way, did anyone notice the use of microSD card? I'm sure many users will be interested in extending their iPhone's storage with a microSD card.
Let us know your thoughts in the comments below.
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