The banks would be major competitors to handset makers AppleApple and GoogleGoogle because unlike others pushing mobile wallet technology, such as mobile phone carriers and retailers, they already have an intimate relationship with consumers and know their spending habits. Alles zu Apple auf CIO.de Alles zu Google auf CIO.de
"Banks all around the world are working on this right now," said James Anderson, senior vice president for mobile and emerging payments at MasterCard.
Anderson didn't name any of the banks, but said MasterCard is already in conversations with them on how to add mobile payment capability to the existing apps that millions of consumers already have on their phones.
The most likely way will be through a technology called host card emulation, that was introduced in AndroidAndroid 4.4 "KitKat" and allows software apps to emulate the secure element chip found on some bank cards and the iPhoneiPhone 6. Using software means wider compatibility with phones than if a dedicated chip was required. Alles zu Android auf CIO.de Alles zu iPhone auf CIO.de
The mobile payments market had been relatively quiet until recently. Google Wallet and Softcard, a competitor backed by cellular carriers, were in the market but consumer awareness and interest appeared to be low.