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Rank: Advanced Member
Joined: 1/16/2011
Posts: 272
Points: 809
Location: United Arab Emirates
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Hi There.
Apple is expected to install “wave and pay” technology for the next version of its iPhone, boosting mobile commerce and potentially giving the company a big piece of the multibillion-dollar transaction industry.
What is meant by wave and pay in the above text.
A friend in need is a friend indeed.
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Rank: Advanced Member
Joined: 7/8/2010
Posts: 4,252
Points: 12,721
Location: iceland
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It is a contactless card which interacts with a machine, to read the card details and take money off it. Like in transport systems, in contactless credit cards, and soon to be in phones. Just swipe it over the reader to pay. http://www.themoneystop.co.uk/072007/barclaycard-introduces-wave-and-pay-credit-card.html
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Rank: Advanced Member
Joined: 1/16/2011
Posts: 272
Points: 809
Location: United Arab Emirates
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Thanks Thar.
You are an encyclopedia.
A friend in need is a friend indeed.
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Rank: Advanced Member
Joined: 7/16/2010
Posts: 252
Points: 756
Location: United States
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Just had to interject my opinion about this technology... it has already been demonstrated that with the right equipment ordinary theives can "read" wireless signals and use this information to steal money, identity, services, etc. They can get into your home (remote garage door openers), car (remote key fob) and credit card account (cards with RF ability) with relative ease. I hope Apple's new venture is more secure than all the other wireless marvels in use today.
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Rank: Advanced Member
Joined: 12/28/2009
Posts: 2,466
Points: 7,414
Location: the city by the bay
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Starbucks has a 'wave and pay' app on the iphone and blackberry---it launched last week. Some customers are really happy about this ............the caveat is the stores must have valid or working scanners......not all do.
peace out, >^,,^<
The poor object to being governed badly, whilst the rich object to being governed at all. G.K. Chesterton
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