Were you one of the people who have been offered the opportunity to try “Tap’n Go”, MasterCard’s contactless card payment system?

Ten you will be glad to know that now Visa is launching a new, contactless mobile payment system, at least according to a leaked press release.

This new technology is believed to involve a secure memory card inside your smartphone that hosts Visa’s payment application, called PayWave.  This will allow you to simply wave your phones in front of terminals to pay for purchases without swiping a card. Allegedly, this technology will work with any phone that has a slot for a memory card.

Given the ease of losing a phone, I’m a little wary of this type of technology. Though I suppose one could argue it’s just as easy to lose a credit card, as it is to lose a cell. Would you use this type of technology?

Story link: http://nyti.ms/bwryWP