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Mastercard plans to launch contactless smartphone payment tech for merchants


To use smartphones as a point-of-sale machine in India, Mastercard may soon launch a new payment technology ‘Tap & Go’  to enable small businesses accepting contactless payments.

The new technology will turn an NFC-enabled smartphone into a PoS machine that doesn’t require a PIN. Mastercard is investing heavily in the contactless PoS for SME sector. The feature is working in US and other markets which is cost-effective and has a quicker check-out facility.

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