Turn Any Android Smartphone into a NFC Device

[cereal killer]

DeviceFidelity and SpringCard Launch Moneto, the World’s First Multi-Platform Mobile Wallet for iPhone and Android at CES. The SD Card contains an NFC radio and antenna that are encrypted together to deliver MasterCard PayPass technology to any Android Smartphone. Pretty exciting news for those that were feeling left out.

Read the full press release below:

Dallas, TX (PRWEB) January 10, 2012


moneto, developed by DeviceFidelity, Inc. and Spring Card Systems LLC, announced today the launch of the world’s first commercially available mobile payment solution that provides iPhone and Android users a convenient way to pay while on the go. The moneto iPhone wallet is powered by MasterCard PayPass technology and linked to a general purpose reloadable MasterCard prepaid card to enable iPhone users to make purchases with their phone at the hundreds of thousands of merchants that accept MasterCard PayPass.


“For over a decade, MasterCard has led the transformation of mobile phones into secure mobile payment devices,” said James Anderson, senior vice president, Mobile and Emerging payments at MasterCard. “We are excited to partner with moneto so that iPhone users can enjoy the convenience of paying for purchases with a simple ‘tap’ at thousands of PayPass locations around the globe.”


For the first time, NFC functionality is available directly to consumers at retail without the need to change devices, upgrade plans or sign new contracts. The moneto mobile payments technology uses a NFC-enabled microSD chip embedded in a patented, protective iPhone case. iPhone users simply need to sign up at moneto.me to receive the case, install the moneto app from the app store, and activate their account. Users can launch the moneto app to view their account balance, check transaction history and make everyday in-store purchases with a tap of their iPhone at any PayPass-enabled contactless payments reader at the point of sale. Users can fund their moneto prepaid account through direct deposit, ACH transfer or cash/credit/debit card-enabled third-party money transfer services such as MoneyGram, Western Union, PayPal or GreenDot.


“As this breakthrough mobile wallet launches in the US, it not only makes mobile payments available to iPhone users for the first time but it also opens the door for consumers to adopt NFC while pushing mobile commerce forward,” said Deepak Jain, DeviceFidelity President and CEO. “We are excited to partner with MasterCard and SpringCard to break the barriers for a rapid effective rollout that will spur both consumers and merchants to adopt this new wave of electronic commerce.”


moneto also comes with a companion prepaid MasterCard to give users the ability to access cash at ATMs and make online purchases, pay bills or shop at merchants that do not accept contactless payments. moneto also enables card-to-card and wire-fund transfers from a secure internet portal accessible via moneto.me.


“Consumers have been hearing about NFC and mobile wallets for years, now with moneto they can finally start using it and with the most popular smartphone device on the planet. The moneto mobile wallet app is focused on delivering a faster and easier shopping experience that is consumer friendly,” said Kevin Haddad, president of SpringCard. “Our vision is simple: People who use our applications should not have to worry ‘Will this work with my phone?’ as consumers can easily make secure purchases regardless of their phone, carrier, or bank.”


SAFETY AND SECURITY


The In2Pay technology behind moneto brings peace of mind to consumers. moneto users can prevent unauthorized access to their account using a PIN that is safely stored in a secure chip inside the microSD. The sleek and durable case design protects the iPhone and the NFC enabled microSD securely stores and encrypts the card information. Additionally, the moneto account is backed by MasterCard’s Zero Liability, which protects consumers against unauthorized purchases.


PRICING AND AVAILABILITY


moneto for iPhone will be available for online ordering in the U.S. immediately at moneto.me for $79.95 which includes $10.00 of pre-loaded funds. The moneto mobile wallet is available in limited release on the iPhone 4S, iPhone 4, iPhone 3GS, and iPhone 3. A number of Android models will also be supported by 2Q12. Additional phone support will be added throughout the year.


The moneto prepaid MasterCard card is issued by University National Bank, member FDIC, pursuant to a license from MasterCard International Incorporated. MasterCard and the MasterCard Brand Mark are registered trademarks of MasterCard International Incorporated.

Source: BGR

 

[captdroid]

So will Verizon not allow this app to be accessed on the market and claim they don't support this NFC payment application like they do for Google Wallet on a Galaxy Nexus?

My guess this is the nail in the coffin for Verizon not wanting to support Google Wallet on a Galaxy Nexus or this app

 

[NickSaul]

It sounds like a great idea. The only problem that I have with it, is that I already have an SD card with all my music on it installed. Is there any word about free space being on the card?

 

[johnomaz]

Can I use my VISA debit card with it or is it only for MasterCards?

 

[nwatkins]

It sounds like a great idea. The only problem that I have with it, is that I already have an SD card with all my music on it installed. Is there any word about free space being on the card?

The website does not indicate how much space is available on the micro SD card. But, there is documentation on how to transfer data from your current micro SD card to the new one.

 

[Shadez]

This really sounds cool...

 

[jkaod]

The article is very interesting. It says that it uses an NFC enabled microSD chip embedded in a protective iphone CASE. It's not in the phone??? How would that work??

 

[TheCleaner]

Does it really take so long to take out a wallet and swipe a card?

 

[jntdroid]

Does it really take so long to take out a wallet and swipe a card?

about as long as it takes to pull out a phone and swipe it

 

[doublea500]

Does this work with the galaxy nexus?DancingNexus

 

[ntrddragn]

Does this work with the galaxy nexus?DancingNexus

nope the nexus doesnt have a microsd. but it already has it just not enable i believe.

 

[jerkwad]

The article is very interesting. It says that it uses an NFC enabled microSD chip embedded in a protective iphone CASE. It's not in the phone??? How would that work??

it would obviously have some type of interface with the iphones connector and then provide the same interface on the case for users to plug in their iphone data/charger cords. it would act as a middle man for the iphone data port that is located on the bottom of each iphone. thank GOD we don't have to resort to that kind of interface due to having expandable (sdcard) storage options on most phones!

 

[jerkwad]

Does this work with the galaxy nexus?DancingNexus

you were joking, right? lol

 

[douglasman100]

nope the nexus doesnt have a microsd. but it already has it just not enable i believe.

Its enabled...

 

[sst45jeff]

Seriously they want the consumer to pay $70.00 so we can have their service on our phone so they can make money off every transaction.
They should be giving these away or at a price for less than a comparable replacement SD card.

If they used there heads & stop thinking about the quick buck & gave them away. They would corner the market & be fat dumb & happy in no time with the service fees off each transaction.

I swear these companies cant see past the quick buck anymore for the long term benefits.