While it is true that it has a head start over the rest, Google Wallet will not be the only one. mobile payment system that will appear on the market. A good example of this is that two companies in Europe are jointly developing their own: MasterCard and ING, and from what has been learned they want to present battle in functionalities and compatibility.
Moreover, according to what has been learned, the system tests began in October, but their arrival has now been officially announced, as indicated Jorn Lambert MasterCard. According to this same executive, what is sought is a reliable system with which users are payments to have the best possible mobile shopping experience. What is certain is that, given the success it is having Google Wallet In the US, no one wants to "miss the boat" and seeks to position themselves in the best possible way.
NFC can be used or not ... depending on the device
The use of this payment system is not groundbreaking and what it seeks is the greater compatibility possible. Therefore, there will be two versions: one for the compatible devices NFC, which confers security and adaptation to the technology that aims to become a standard, and another option for models that do not include this possibility. The interesting thing is that, in addition, it is the user who chooses which of the two systems he wishes to use through a specific application (called PayPass-App).
If NFC technology is used, the protocol is the usual one: the purchase is made, the payment method is selected -in this case with NFC-, the information is sent and, finally, a PIN number is entered to confirm it (Even this last step might not be done if security allows it). Here, nothing new.
In the case of using phones or tablets that do not include NFC, or even a PC, the protocol is similar. However, in this case, when the information is sent, a custom QR code that is received on the device and, when passed through a reader for payments, the transaction is carried out (here the use of a PIN is optional).
Therefore, there is a European variant to Google Wallet that has been created by MasterCard and ING. Its operation is simple as it has been seen and, in addition, it offers the greatest possible compatibility. We will see how it is received in the market, but it certainly has options. At least, the same as the creator of Android.
Mobile payment requirements and compatibility
To pay with your mobile phone It is advisable to confirm that the phone has NFC (by checking settings or the icon in the quick bar), install a compatible app and link cards. The merchant must have contactless dataphone, widespread technology that allows you to use your mobile phone just like a contactless card.
Apple Pay, Google Pay and the ING app
In iOS environments, ING allows you to pay with Apple Pay from the Wallet app; on Android it is possible to use Google Pay and the own ING appThe mobile phone must be unlocked and, depending on the amount and the entity, a credit card may be required. Pine tree biometrics to authorize the operation in physical or online stores.
Mastercard and ING Click to Pay: tokenization and EMVCo
ING makes it easy to register Click to Pay Mastercard from your website or app to pay without typing data of card. Transactions are protected with tokenization and rely on the EMVCo standards, being compatible with all major networks. The result is a seamless, secure experience recognized by online retailers.
Bizum and additional security at ING
In addition, ING integrates Bizum to send and receive money instantly, pay buy online and manage subscriptions. Registration is done from the app, without commissions, with operating limits and the possibility of transferring the number if it is already used at another bank. To reinforce protection, the entity incorporates SOS Fraud (immediate blocking of movements in case of suspicion) and the service “Who calls me?” to verify bank calls.
The joint proposal of Mastercard and ING combines NFC, QR, one-click payments, and security tools to cover physical, online, and person-to-person purchases. Its focus on compatibility, industry standards, and user control makes it a solid alternative to other established systems.