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MasterCard Launches Internet of Things for Payments

  • USA Today, Tuesday, October 27, 2015 10:05 AM

Start your engine with a keyfob, sure, but what about to pay for gas? MasterCard wants to enable payments on devices — part of a growing movement loosely called Internet of Things — so that you can transact a purchase of everything from the ring on your finger to the key fob for your car. On Monday, MasterCard announced the program to make it happen, with an assist from a variety of industry partners. There’s Qualcomm and NXP on the tech side,Capital One as the first banking issuer, and General Motors with designs on producing that first payments-capable key fob, the idea being that you might pay for food or gas when making a pit stop on a road trip.

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