By MyBankTracker  Updated on Fri Nov 9, 2012

MasterCard, ING Test Mobile Payments in Netherlands

MasterCard and ING Group (the Netherlands-based former parent of ING Direct USA) are testing a new way to make mobile payments for online shopping.

In this trial, online shoppers use their mobile devices to scan a 2D barcode that is generated by a website during checkout. All the “cart” information is then moved to the mobile device, which is used to complete the payment. The benefit of this seemingly-unnecessary step comes from a security chip, housed in certain mobile devices, that encrypts transaction data.

“We see a future where the mobile phone will be used to facilitate multiple use cases — remote, contactless, PC to phone, in aisle etc.,” James Anderson, MasterCard’s group head and senior vice president of mobile product development, told Mobile Commerce Daily.

The trial began in mid-October and will run until the end of the first quarter of 2013.

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