Dutch-lender ING is testing a new internet payments service for web shopping that uses the secure element in a mobile phone to authenticate online transactions.
The trial extends the functionality of the Mobile MasterCard PayPass application – used to support contactless payments at the point of sale (POS) – to cover payments made through a PIN-based mobile application and via QR codes for web purchases made via a PC or tablet.
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The trial began in mid-October and will, reportedly, run through the first quarter of 2013.
Consumers are enabled to complete the payment step on their phone using a secure QR code that connects the Mobile PayPass application in the user’s phone securely to the merchant’s online shopping cart.
Coupons and vouchers can be applied in real-time as the consumer shops, and e-receipts are presented upon successful payment.
According to MasterCard, the trial "promises to deliver a similar user experience in both the physical and digital world and a comparable level of security to a regular EMV transaction".
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By GlobalDataJorn Lambert, group head, emerging payments, Europe, MasterCard, said:
"This trial builds on our recently announced PayPass Wallet Services and our vision of delivering to consumers and merchants a secure, converged payments experience in-store, online or on a mobile device."
